Thrivent Financial for Lutherans purchased a new position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 3,054 shares of the basic materials company’s stock, valued at approximately $304,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Franco Nevada by 6.5% in the fourth quarter. Van ECK Associates Corp now owns 8,282,786 shares of the basic materials company’s stock valued at $855,611,000 after acquiring an additional 505,936 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Franco Nevada by 23.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 5,662,449 shares of the basic materials company’s stock valued at $563,527,000 after purchasing an additional 1,082,428 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Franco Nevada by 5.3% in the 4th quarter. Renaissance Technologies LLC now owns 4,639,636 shares of the basic materials company’s stock valued at $479,275,000 after purchasing an additional 232,005 shares during the period. Capital World Investors grew its stake in Franco Nevada by 51.9% during the 4th quarter. Capital World Investors now owns 3,920,127 shares of the basic materials company’s stock worth $404,798,000 after buying an additional 1,339,282 shares during the last quarter. Finally, Norges Bank acquired a new position in Franco Nevada during the fourth quarter worth approximately $280,552,000. 67.52% of the stock is owned by hedge funds and other institutional investors.
FNV opened at $138.67 on Wednesday. Franco Nevada Corp has a 12 month low of $77.18 and a 12 month high of $152.70. The stock has a market capitalization of $26.34 billion, a P/E ratio of 67.64, a P/E/G ratio of 15.95 and a beta of 0.60. The business has a 50 day simple moving average of $137.97 and a 200-day simple moving average of $118.20.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 6th. The basic materials company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The company had revenue of $240.50 million during the quarter, compared to the consensus estimate of $237.92 million. Franco Nevada had a return on equity of 7.85% and a net margin of 19.91%. Franco Nevada’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.35 earnings per share. As a group, sell-side analysts expect that Franco Nevada Corp will post 2.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.26 dividend. This is a boost from Franco Nevada’s previous quarterly dividend of $0.25. The ex-dividend date was Wednesday, June 10th. This represents a $1.04 annualized dividend and a dividend yield of 0.75%. Franco Nevada’s dividend payout ratio (DPR) is 57.14%.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “hold” rating on shares of Franco Nevada in a research report on Thursday, April 30th. Zacks Investment Research upgraded shares of Franco Nevada from a “hold” rating to a “buy” rating and set a $159.00 price objective on the stock in a research note on Monday, May 18th. TD Securities upped their target price on shares of Franco Nevada from $130.00 to $150.00 and gave the company a “hold” rating in a report on Thursday, May 7th. CIBC raised their price target on Franco Nevada from $195.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Cfra boosted their price target on Franco Nevada from $171.00 to $228.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $147.33.
Franco Nevada Company 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.
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