Legal & General Group Plc lowered its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 5.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 816,778 shares of the basic materials company’s stock after selling 45,457 shares during the quarter. Legal & General Group Plc owned approximately 0.44% of Franco Nevada worth $59,575,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in Franco Nevada by 128.6% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 900 shares in the last quarter. Cerebellum GP LLC increased its stake in Franco Nevada by 2,358.0% in the 2nd quarter. Cerebellum GP LLC now owns 2,458 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 2,358 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Franco Nevada during the 1st quarter worth about $201,000. Janney Montgomery Scott LLC acquired a new stake in Franco Nevada during the 2nd quarter worth about $218,000. Finally, Community Financial Services Group LLC acquired a new stake in Franco Nevada during the 2nd quarter worth about $219,000. 63.59% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on FNV shares. Macquarie lowered Franco Nevada from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 10th. Desjardins upgraded Franco Nevada from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. TD Securities set a $93.00 price objective on Franco Nevada and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, ValuEngine lowered Franco Nevada from a “hold” rating to a “sell” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $93.71.
Shares of NYSE FNV opened at $62.16 on Wednesday. Franco Nevada Corp has a one year low of $61.64 and a one year high of $86.06. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 57.56, a price-to-earnings-growth ratio of 13.35 and a beta of -0.18.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.29 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.29. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. The firm had revenue of $161.30 million during the quarter, compared to analyst estimates of $169.46 million. During the same period last year, the company posted $0.25 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. equities analysts predict that Franco Nevada Corp will post 1.2 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.54%. Franco Nevada’s payout ratio is presently 88.89%.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
Further Reading: Dividend
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