Federation des caisses Desjardins du Quebec Has $65.23 Million Stock Position in Franco-Nevada Corporation $FNV

Key Points

• The Federation des caisses Desjardins du Quebec has reduced its holdings in Franco-Nevada Corporation by 2.0%, now owning approximately 415,114 shares valued at about $65.2 million.
• Franco-Nevada's stock recently experienced mixed ratings, with analysts giving it a consensus rating of "Moderate Buy" and a price target of $178.88.
• The company declared a quarterly dividend of $0.38 per share, reflecting an annualized yield of 0.8% with a payout ratio of 37.35%.

Federation des caisses Desjardins du Quebec decreased its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 415,114 shares of the basic materials company's stock after selling 8,265 shares during the period. Federation des caisses Desjardins du Quebec owned 0.22% of Franco-Nevada worth $65,229,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CX Institutional bought a new stake in Franco-Nevada during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the 1st quarter valued at $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada during the 1st quarter valued at $35,000. Golden State Wealth Management LLC increased its position in shares of Franco-Nevada by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 115 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in shares of Franco-Nevada by 494.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 188 shares during the period. Institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Royal Bank Of Canada lifted their target price on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a report on Friday. Finally, National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Performance

Shares of FNV stock traded up $3.93 on Friday, reaching $193.96. 585,807 shares of the company's stock traded hands, compared to its average volume of 675,237. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $194.87. The company has a market capitalization of $37.38 billion, a P/E ratio of 47.66, a price-to-earnings-growth ratio of 2.54 and a beta of 0.41. The business's 50 day moving average price is $170.49 and its two-hundred day moving average price is $163.53.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business's revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. Research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

Franco-Nevada Profile

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.