Nordea Investment Management AB grew its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 37.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,874 shares of the basic materials company’s stock after purchasing an additional 4,064 shares during the quarter. Nordea Investment Management AB’s holdings in Franco Nevada were worth $1,490,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of FNV. Norges Bank bought a new position in shares of Franco Nevada during the fourth quarter valued at approximately $195,542,000. FMR LLC grew its holdings in shares of Franco Nevada by 6.9% during the fourth quarter. FMR LLC now owns 12,108,236 shares of the basic materials company’s stock valued at $849,049,000 after purchasing an additional 781,761 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Franco Nevada by 66.0% during the fourth quarter. Deutsche Bank AG now owns 1,243,324 shares of the basic materials company’s stock valued at $87,239,000 after purchasing an additional 494,289 shares during the last quarter. Elephas Investment Management Ltd bought a new position in shares of Franco Nevada during the fourth quarter valued at approximately $30,135,000. Finally, CIBC Asset Management Inc grew its holdings in shares of Franco Nevada by 34.3% during the fourth quarter. CIBC Asset Management Inc now owns 1,249,493 shares of the basic materials company’s stock valued at $87,641,000 after purchasing an additional 318,968 shares during the last quarter. 65.07% of the stock is owned by institutional investors.
Several research firms have recently commented on FNV. ValuEngine raised Franco Nevada from a “hold” rating to a “buy” rating in a report on Saturday, June 22nd. TheStreet raised Franco Nevada from a “c+” rating to a “b-” rating in a report on Tuesday, June 18th. Zacks Investment Research lowered Franco Nevada from a “buy” rating to a “hold” rating in a report on Thursday, March 14th. Royal Bank of Canada lowered Franco Nevada from an “outperform” rating to a “sector perform” rating and set a $75.54 target price for the company. in a report on Wednesday, May 22nd. Finally, BMO Capital Markets reaffirmed an “average” rating and set a $100.00 target price on shares of Franco Nevada in a report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $83.93.
Shares of FNV stock opened at $83.51 on Friday. Franco Nevada Corp has a 12-month low of $58.26 and a 12-month high of $86.81. The company has a market cap of $15.86 billion, a price-to-earnings ratio of 71.38, a price-to-earnings-growth ratio of 16.16 and a beta of 0.03. The business has a 50 day simple moving average of $77.42. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.14 and a quick ratio of 4.14.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.07. Franco Nevada had a return on equity of 4.64% and a net margin of 21.16%. The business had revenue of $179.80 million during the quarter, compared to analyst estimates of $166.15 million. On average, sell-side analysts forecast that Franco Nevada Corp will post 1.31 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.20%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Wednesday, June 12th. Franco Nevada’s dividend payout ratio is 85.47%.
About Franco Nevada
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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