AMP Capital Investors Ltd reduced its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 14.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,022 shares of the basic materials company’s stock after selling 20,131 shares during the period. AMP Capital Investors Ltd owned 0.06% of Franco Nevada worth $8,394,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of FNV. Bank of Montreal Can acquired a new stake in shares of Franco Nevada in the 2nd quarter worth approximately $494,119,000. Fiera Capital Corp lifted its stake in Franco Nevada by 217.2% during the second quarter. Fiera Capital Corp now owns 3,682,984 shares of the basic materials company’s stock valued at $268,834,000 after purchasing an additional 2,521,932 shares during the last quarter. Van ECK Associates Corp lifted its stake in Franco Nevada by 35.7% during the first quarter. Van ECK Associates Corp now owns 8,583,214 shares of the basic materials company’s stock valued at $587,006,000 after purchasing an additional 2,259,834 shares during the last quarter. Toronto Dominion Bank lifted its stake in Franco Nevada by 54.5% during the first quarter. Toronto Dominion Bank now owns 1,647,700 shares of the basic materials company’s stock valued at $112,278,000 after purchasing an additional 581,131 shares during the last quarter. Finally, Addenda Capital Inc. acquired a new stake in Franco Nevada during the second quarter valued at approximately $29,528,000. 63.59% of the stock is owned by institutional investors.
FNV stock opened at $62.52 on Friday. Franco Nevada Corp has a 12 month low of $58.26 and a 12 month high of $86.06. The company has a market cap of $10.96 billion, a P/E ratio of 57.89, a price-to-earnings-growth ratio of 12.32 and a beta of -0.19.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, August 8th. The basic materials company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The business had revenue of $161.30 million during the quarter, compared to analyst estimates of $169.46 million. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.25 earnings per share. equities analysts predict that Franco Nevada Corp will post 1.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be given a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, September 12th. This represents a $0.96 annualized dividend and a dividend yield of 1.54%. Franco Nevada’s dividend payout ratio (DPR) is presently 88.89%.
FNV has been the subject of several recent research reports. TD Securities set a $93.00 target price on shares of Franco Nevada and gave the company a “buy” rating in a research note on Tuesday, August 7th. Desjardins raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a research note on Wednesday, July 18th. Macquarie lowered shares of Franco Nevada from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 10th. Credit Suisse Group reissued a “neutral” rating on shares of Franco Nevada in a research note on Monday. Finally, ValuEngine lowered shares of Franco Nevada from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $93.71.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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