FMR LLC grew its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 6.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,108,236 shares of the basic materials company’s stock after purchasing an additional 781,761 shares during the period. FMR LLC owned about 6.47% of Franco Nevada worth $849,049,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of FNV. Advisory Services Network LLC grew its stake in shares of Franco Nevada by 42.1% in the 4th quarter. Advisory Services Network LLC now owns 729 shares of the basic materials company’s stock valued at $51,000 after buying an additional 216 shares in the last quarter. Parallel Advisors LLC boosted its position in Franco Nevada by 57.7% during the fourth quarter. Parallel Advisors LLC now owns 793 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 290 shares during the period. CoreCommodity Management LLC boosted its position in Franco Nevada by 12.4% during the fourth quarter. CoreCommodity Management LLC now owns 3,830 shares of the basic materials company’s stock worth $268,000 after purchasing an additional 422 shares during the period. State of Tennessee Treasury Department boosted its position in Franco Nevada by 0.4% during the fourth quarter. State of Tennessee Treasury Department now owns 146,785 shares of the basic materials company’s stock worth $10,304,000 after purchasing an additional 580 shares during the period. Finally, First Manhattan Co. boosted its position in shares of Franco Nevada by 116.1% in the fourth quarter. First Manhattan Co. now owns 1,117 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 600 shares during the period. Institutional investors own 67.86% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research cut Franco Nevada from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. BMO Capital Markets restated an “average” rating and issued a $100.00 target price on shares of Franco Nevada in a research note on Friday, April 5th. Barclays lowered Franco Nevada from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $74.00 to $73.00 in a research note on Tuesday, April 9th. TheStreet lowered Franco Nevada from a “b” rating to a “c+” rating in a research note on Friday, April 5th. Finally, Deutsche Bank increased their price objective on Franco Nevada from $73.50 to $75.00 and gave the stock a “hold” rating in a research note on Wednesday, April 10th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Franco Nevada has a consensus rating of “Hold” and a consensus target price of $89.86.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 19th. The basic materials company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.02). Franco Nevada had a return on equity of 4.62% and a net margin of 21.28%. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $157.37 million. During the same quarter in the previous year, the business earned $0.28 earnings per share. Franco Nevada’s revenue for the quarter was down 11.4% compared to the same quarter last year. Sell-side analysts predict that Franco Nevada Corp will post 1.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date was Wednesday, March 13th. Franco Nevada’s dividend payout ratio is currently 82.05%.
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Franco Nevada Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
Further Reading: Market Capitalization and Individual Investors
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