Invesco Ltd. Has $67.49 Million Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Invesco Ltd. reduced its position in Franco-Nevada Corporation by 4.9%, selling 22,122 shares and owning 428,320 shares valued at approximately $67.5 million at the end of the quarter.
• Franco-Nevada recently reported an EPS of $1.24 for the quarter, surpassing analysts' expectations of $1.10, while its revenue of $369.4 million was below the anticipated $382.7 million.
• The company will pay a quarterly dividend of $0.38 per share on September 25th, reflecting an annualized dividend yield of 0.9% and a payout ratio of 37.35%.

Invesco Ltd. reduced its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 428,320 shares of the basic materials company's stock after selling 22,122 shares during the period. Invesco Ltd. owned about 0.22% of Franco-Nevada worth $67,486,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 49.9% during the 4th 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. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after acquiring an additional 1,133,373 shares during the last quarter. Capital World Investors grew its position in Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares during the period. BLI Banque de Luxembourg Investments acquired a new stake in Franco-Nevada during the fourth quarter worth about $52,857,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Franco-Nevada by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock worth $504,069,000 after purchasing an additional 400,384 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

NYSE:FNV traded up $4.57 during midday trading on Wednesday, reaching $177.97. 348,200 shares of the company traded hands, compared to its average volume of 828,817. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $180.98. The firm has a market capitalization of $34.29 billion, a price-to-earnings ratio of 43.70, a price-to-earnings-growth ratio of 2.34 and a beta of 0.36. The company has a fifty day moving average price of $165.38 and a 200 day moving average price of $159.56.

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

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's payout ratio is presently 37.35%.

Analyst Ratings Changes

FNV has been the subject of a number of research reports. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. UBS Group boosted their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Wall Street Zen downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Saturday. Royal Bank Of Canada upped their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, Raymond James Financial lifted their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $178.88.

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.