Addenda Capital Inc. cut its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 60.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,546 shares of the basic materials company's stock after selling 9,862 shares during the period. Addenda Capital Inc.'s holdings in Franco-Nevada were worth $1,031,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in FNV. Norges Bank acquired a new stake in Franco-Nevada in the 4th quarter valued at about $237,643,000. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after buying an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after buying an additional 828,166 shares during the last quarter. Capital World Investors boosted its stake in shares of Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after acquiring an additional 711,591 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in shares of Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after acquiring an additional 478,602 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.
Analyst Ratings Changes
FNV has been the topic of a number of research analyst reports. Raymond James set a $186.00 price target on Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank of Canada increased their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday. Finally, Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.63.
View Our Latest Research Report on FNV
Franco-Nevada Stock Performance
Shares of NYSE FNV traded down $3.29 during midday trading on Thursday, reaching $173.78. The company's stock had a trading volume of 540,216 shares, compared to its average volume of 854,900. The company has a market cap of $33.46 billion, a P/E ratio of -54.99, a P/E/G ratio of 9.78 and a beta of 0.45. The business's 50 day moving average price is $164.33 and its two-hundred day moving average price is $143.55. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. Sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.
Franco-Nevada Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.
About Franco-Nevada
(
Free Report)
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, 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 through a third-party marketing agent.
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