Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Franco-Nevada Corporation (NYSE:FNV)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 90,021 shares of the basic materials company's stock after selling 2,429 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Franco-Nevada were worth $14,156,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FNV. LPL Financial LLC lifted its holdings in Franco-Nevada by 6.3% in the fourth quarter. LPL Financial LLC now owns 30,843 shares of the basic materials company's stock worth $3,627,000 after buying an additional 1,818 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Franco-Nevada by 2.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,787 shares of the basic materials company's stock valued at $1,152,000 after purchasing an additional 200 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Franco-Nevada by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after purchasing an additional 45,495 shares during the last quarter. Orion Portfolio Solutions LLC lifted its holdings in shares of Franco-Nevada by 12.0% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,103 shares of the basic materials company's stock valued at $247,000 after purchasing an additional 226 shares during the last quarter. Finally, Schroder Investment Management Group purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $473,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV traded up $2.28 during midday trading on Friday, hitting $161.61. 894,251 shares of the company traded hands, compared to its average volume of 663,978. The firm has a 50 day moving average of $164.51 and a 200-day moving average of $155.69. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 2.12 and a beta of 0.41.

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 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same period last year, the company posted $0.76 EPS. The business's revenue was up 43.5% on a year-over-year basis. Sell-side analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on FNV shares. Raymond James Financial set a $186.00 price target on shares of Franco-Nevada and gave the company an "outperform" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. HC Wainwright reaffirmed a "buy" rating and issued a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their target price 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, UBS Group lifted their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $172.13.

Franco-Nevada Company 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.