Russell Investments Group Ltd. raised its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 34.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 435,781 shares of the basic materials company’s stock after buying an additional 112,604 shares during the period. Russell Investments Group Ltd. owned about 0.23% of Franco Nevada worth $33,677,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in FNV. Advisory Services Network LLC grew its holdings in Franco Nevada by 199.0% during the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after purchasing an additional 1,001 shares during the period. Blair William & Co. IL purchased a new stake in shares of Franco Nevada in the second quarter worth $210,000. Wright Investors Service Inc. purchased a new stake in Franco Nevada during the third quarter valued at about $245,000. Dynamic Technology Lab Private Ltd purchased a new stake in Franco Nevada during the second quarter valued at about $256,000. Finally, Janney Montgomery Scott LLC raised its position in Franco Nevada by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 61.48% of the company’s stock.
Several research firms have weighed in on FNV. Scotiabank lifted their price objective on Franco Nevada from $79.50 to $82.00 and gave the company a “sector perform” rating in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Franco Nevada in a report on Thursday, September 7th. TD Securities increased their price objective on shares of Franco Nevada from $92.00 to $97.00 and gave the company a “buy” rating in a report on Tuesday, November 7th. Canaccord Genuity restated a “buy” rating and set a $121.00 target price on shares of Franco Nevada in a research report on Tuesday, November 7th. Finally, Zacks Investment Research raised shares of Franco Nevada from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research report on Thursday, November 9th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Franco Nevada currently has a consensus rating of “Hold” and an average price target of $85.70.
Franco Nevada Corp (NYSE:FNV) traded down $0.42 during trading hours on Thursday, reaching $77.78. 748,670 shares of the company’s stock traded hands, compared to its average volume of 626,767. The firm has a market cap of $14,609.34, a price-to-earnings ratio of 75.64, a price-to-earnings-growth ratio of 18.55 and a beta of -0.14. Franco Nevada Corp has a 12 month low of $53.31 and a 12 month high of $86.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Franco Nevada had a net margin of 22.12% and a return on equity of 4.31%. The business had revenue of $171.50 million for the quarter, compared to the consensus estimate of $167.07 million. During the same period in the previous year, the firm earned $0.30 EPS. The business’s revenue was down .3% on a year-over-year basis. analysts forecast that Franco Nevada Corp will post 1.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, December 6th. Franco Nevada’s payout ratio is 116.46%.
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About Franco Nevada
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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