Royal Bank of Canada trimmed its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 11.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,131,773 shares of the basic materials company's stock after selling 408,446 shares during the quarter. Royal Bank of Canada owned 1.63% of Franco-Nevada worth $368,263,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $49,000. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Franco-Nevada by 538.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after acquiring an additional 512 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $73,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after acquiring an additional 126 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
Franco-Nevada Stock Performance
Shares of Franco-Nevada stock opened at $159.08 on Friday. The firm has a fifty day moving average of $160.40 and a two-hundred day moving average of $139.58. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of -50.34, a PEG ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same quarter in the prior year, the company earned $0.76 EPS. The firm's quarterly revenue was up 43.5% on a year-over-year basis. As a group, research analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.
Analyst Ratings Changes
Several brokerages have recently commented on FNV. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a report on Tuesday, March 11th. HC Wainwright boosted their target price on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. Finally, Royal Bank of Canada upped their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $162.75.
Read Our Latest Report on FNV
Franco-Nevada 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.
Further Reading
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.
Before you consider Franco-Nevada, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franco-Nevada wasn't on the list.
While Franco-Nevada currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
