Greenhouse Funds LLLP lifted its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,596 shares of the basic materials company’s stock after acquiring an additional 5,528 shares during the quarter. Franco Nevada accounts for 0.9% of Greenhouse Funds LLLP’s portfolio, making the stock its 28th largest holding. Greenhouse Funds LLLP’s holdings in Franco Nevada were worth $3,246,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Fund Management S.A. lifted its holdings in shares of Franco Nevada by 455.3% in the fourth quarter. Capital Fund Management S.A. now owns 3,332 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 2,732 shares in the last quarter. Nationwide Fund Advisors purchased a new stake in shares of Franco Nevada in the third quarter valued at $1,567,000. JPMorgan Chase & Co. lifted its holdings in shares of Franco Nevada by 1.5% in the third quarter. JPMorgan Chase & Co. now owns 946,879 shares of the basic materials company’s stock valued at $74,444,000 after purchasing an additional 14,357 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Franco Nevada by 17.1% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,007 shares of the basic materials company’s stock valued at $1,008,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. purchased a new stake in shares of Franco Nevada in the fourth quarter valued at $254,000. 63.37% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently issued reports on FNV. Zacks Investment Research upgraded Franco Nevada from a “hold” rating to a “strong-buy” rating and set a $85.00 price objective for the company in a report on Thursday, February 15th. TD Securities set a $96.00 price objective on Franco Nevada and gave the stock a “buy” rating in a report on Friday, December 1st. Raymond James Financial cut their price objective on Franco Nevada from $93.00 to $91.00 and set an “outperform” rating for the company in a report on Friday, March 9th. Scotiabank set a $86.00 price objective on Franco Nevada and gave the stock a “hold” rating in a report on Monday, January 22nd. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Franco Nevada has an average rating of “Hold” and an average target price of $88.00.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, March 7th. The basic materials company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). Franco Nevada had a return on equity of 4.38% and a net margin of 28.84%. The firm had revenue of $167.00 million for the quarter, compared to analyst estimates of $171.99 million. During the same period last year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. equities research analysts predict that Franco Nevada Corp will post 1.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Wednesday, March 14th. Franco Nevada’s dividend payout ratio (DPR) is presently 86.79%.
Franco Nevada Profile
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.
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.