DekaBank Deutsche Girozentrale reduced its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,688 shares of the basic materials company’s stock after selling 351 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Franco Nevada were worth $1,292,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. B & T Capital Management DBA Alpha Capital Management acquired a new position in Franco Nevada during the 3rd quarter worth $32,000. Man Group plc grew its holdings in Franco Nevada by 7.0% during the 3rd quarter. Man Group plc now owns 484,546 shares of the basic materials company’s stock worth $44,179,000 after acquiring an additional 31,905 shares in the last quarter. Stifel Financial Corp grew its holdings in Franco Nevada by 192.0% during the 3rd quarter. Stifel Financial Corp now owns 16,042 shares of the basic materials company’s stock worth $1,458,000 after acquiring an additional 10,548 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Franco Nevada by 259.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,026 shares of the basic materials company’s stock worth $914,000 after acquiring an additional 7,235 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its holdings in Franco Nevada by 62.1% during the 3rd quarter. Voloridge Investment Management LLC now owns 16,049 shares of the basic materials company’s stock worth $1,463,000 after acquiring an additional 6,146 shares in the last quarter. 63.53% of the stock is owned by institutional investors.
Several research analysts have recently commented on FNV shares. TD Securities lifted their price target on shares of Franco Nevada from $115.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Zacks Investment Research lowered shares of Franco Nevada from a “buy” rating to a “hold” rating and set a $109.00 price target for the company. in a report on Friday, January 3rd. Royal Bank of Canada reaffirmed a “hold” rating and issued a $110.00 price target on shares of Franco Nevada in a report on Sunday, February 9th. Raymond James set a $108.00 price target on shares of Franco Nevada and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, CIBC reaffirmed a “buy” rating and issued a $143.00 price target on shares of Franco Nevada in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $109.64.
NYSE FNV opened at $114.61 on Friday. Franco Nevada Corp has a one year low of $69.16 and a one year high of $115.25. The company has a 50-day simple moving average of $107.51 and a 200-day simple moving average of $98.33. The company has a debt-to-equity ratio of 0.05, a quick ratio of 6.37 and a current ratio of 6.37. The firm has a market capitalization of $21.60 billion, a PE ratio of 108.12, a price-to-earnings-growth ratio of 13.23 and a beta of 0.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, November 11th. The basic materials company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The business had revenue of $235.70 million during the quarter, compared to analyst estimates of $223.73 million. Franco Nevada had a net margin of 27.17% and a return on equity of 5.78%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.29 EPS. Equities analysts forecast that Franco Nevada Corp will post 1.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be given a $0.25 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $1.00 annualized dividend and a yield of 0.87%. Franco Nevada’s dividend payout ratio is presently 85.47%.
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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