Private Advisor Group LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,768 shares of the basic materials company’s stock after selling 233 shares during the quarter. Private Advisor Group LLC’s holdings in Franco-Nevada were worth $2,880,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. FIL Ltd grew its holdings in Franco-Nevada by 2.7% in the 1st quarter. FIL Ltd now owns 7,583,982 shares of the basic materials company’s stock worth $1,106,046,000 after acquiring an additional 198,387 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Franco-Nevada by 3.0% during the third quarter. Vanguard Group Inc. now owns 6,670,398 shares of the basic materials company’s stock valued at $796,979,000 after acquiring an additional 192,144 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Franco-Nevada by 69.9% during the first quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock valued at $390,662,000 after acquiring an additional 1,102,710 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Franco-Nevada by 4.1% during the second quarter. Victory Capital Management Inc. now owns 2,475,090 shares of the basic materials company’s stock valued at $352,948,000 after acquiring an additional 98,520 shares during the last quarter. Finally, M&G Investment Management Ltd. raised its stake in shares of Franco-Nevada by 1.9% during the second quarter. M&G Investment Management Ltd. now owns 1,682,707 shares of the basic materials company’s stock valued at $240,031,000 after acquiring an additional 31,080 shares during the last quarter. 66.70% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on the stock. HC Wainwright upped their price objective on shares of Franco-Nevada from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. TheStreet downgraded shares of Franco-Nevada from a “b” rating to a “c+” rating in a research note on Tuesday, August 1st. Royal Bank of Canada decreased their price target on shares of Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 1st. StockNews.com assumed coverage on shares of Franco-Nevada in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Finally, CSFB decreased their target price on shares of Franco-Nevada from $157.00 to $150.00 and set a “neutral” rating for the company in a research note on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $168.88.
Franco-Nevada Trading Down 2.1 %
FNV opened at $117.87 on Tuesday. The company has a market capitalization of $22.65 billion, a PE ratio of 33.30, a PEG ratio of 5.67 and a beta of 0.76. The firm’s 50 day simple moving average is $132.12 and its two-hundred day simple moving average is $140.12. Franco-Nevada Co. has a 1-year low of $116.40 and a 1-year high of $161.25.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $309.50 million during the quarter, compared to analyst estimates of $317.93 million. Franco-Nevada had a return on equity of 10.23% and a net margin of 55.10%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.83 earnings per share. Equities analysts forecast that Franco-Nevada Co. will post 3.37 earnings per share for the current fiscal year.
Franco-Nevada Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, December 6th. Franco-Nevada’s dividend payout ratio (DPR) is 38.42%.
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids.
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