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Scotia Capital Inc. Has $22.75 Million Holdings in Franco-Nevada Corporation (NYSE:FNV)

Franco-Nevada logo with Basic Materials background

Key Points

  • Scotia Capital Inc. increased its holdings in Franco-Nevada Corporation by 2.1% during the first quarter, owning $22.75 million worth, or 0.08% of the company’s shares.
  • Franco-Nevada reported earnings of $1.07 per share for the latest quarter, exceeding analysts' expectations of $1.00, with quarterly revenue rising 43.5% year-over-year.
  • The company declared a quarterly dividend of $0.38 per share, resulting in an annualized yield of 0.9% and a payout ratio of 47.50%.
  • Interested in Franco-Nevada? Here are five stocks we like better.

Scotia Capital Inc. lifted its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,821 shares of the basic materials company's stock after purchasing an additional 3,009 shares during the period. Scotia Capital Inc. owned 0.08% of Franco-Nevada worth $22,745,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FNV. SBI Securities Co. Ltd. increased its holdings in shares of Franco-Nevada by 10.3% during the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after purchasing an additional 64 shares during the period. Confluence Investment Management LLC increased its holdings in shares of Franco-Nevada by 1.5% during the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after purchasing an additional 84 shares during the period. CoreCommodity Management LLC increased its holdings in shares of Franco-Nevada by 2.9% during the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after purchasing an additional 108 shares during the period. Golden State Wealth Management LLC increased its holdings 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 worth $36,000 after purchasing an additional 115 shares during the period. Finally, Trust Co. of Vermont increased its holdings in shares of Franco-Nevada by 10.0% during the 1st quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock worth $199,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Trading Up 1.4%

Shares of Franco-Nevada stock opened at $161.61 on Friday. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 50.50, a P/E/G ratio of 2.15 and a beta of 0.36. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $179.99. The firm's 50-day moving average price is $164.51 and its two-hundred day moving average price is $155.89.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.76 earnings per share. As a group, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on FNV. 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 report on Thursday, July 3rd. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. HC Wainwright reissued a "buy" rating and issued a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Read Our Latest Analysis on Franco-Nevada

Franco-Nevada Company Profile

(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.

Recommended Stories

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV.

Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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