Tocqueville Asset Management L.P. lowered its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 19.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,010,040 shares of the basic materials company’s stock after selling 239,720 shares during the quarter. Franco Nevada comprises 0.9% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 13th biggest holding. Tocqueville Asset Management L.P. owned about 0.54% of Franco Nevada worth $73,732,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in FNV. BNP Paribas Arbitrage SA boosted its position in shares of 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 valued at $109,000 after purchasing an additional 900 shares during the period. Cerebellum GP LLC boosted its position in shares of 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 valued at $179,000 after purchasing an additional 2,358 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Franco Nevada in the 1st quarter valued at about $201,000. Janney Montgomery Scott LLC acquired a new stake in shares of Franco Nevada in the 2nd quarter valued at about $218,000. Finally, Community Financial Services Group LLC acquired a new stake in shares of Franco Nevada in the 2nd quarter valued at about $219,000. Institutional investors and hedge funds own 63.58% of the company’s stock.
Franco Nevada stock traded up $0.09 during mid-day trading on Thursday, reaching $61.14. 2,925 shares of the company were exchanged, compared to its average volume of 593,522. Franco Nevada Corp has a twelve month low of $61.64 and a twelve month high of $86.06. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 56.53, a PEG ratio of 13.35 and a beta of -0.19.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. The company had revenue of $161.30 million during the quarter, compared to analysts’ expectations of $169.46 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. equities analysts predict that Franco Nevada Corp will post 1.2 EPS for the current year.
The business 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 is Wednesday, September 12th. This represents a $0.96 dividend on an annualized basis and a yield of 1.57%. Franco Nevada’s payout ratio is 88.89%.
A number of analysts recently issued reports on the company. Macquarie cut Franco Nevada from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 10th. ValuEngine cut Franco Nevada from a “hold” rating to a “sell” rating in a research report on Tuesday. 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, Desjardins raised Franco Nevada from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $93.71.
Franco Nevada Company Profile
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.
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