Stifel Financial Corp decreased its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 39.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,979 shares of the basic materials company’s stock after selling 3,855 shares during the quarter. Stifel Financial Corp’s holdings in Franco Nevada were worth $417,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in FNV. JNBA Financial Advisors acquired a new stake in shares of Franco Nevada in the fourth quarter valued at about $46,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Franco Nevada in the fourth quarter valued at about $49,000. Parallel Advisors LLC increased its position in shares of Franco Nevada by 57.7% in the fourth quarter. Parallel Advisors LLC now owns 793 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 290 shares during the last quarter. CWM LLC acquired a new stake in shares of Franco Nevada in the fourth quarter valued at about $63,000. Finally, First Manhattan Co. increased its position in shares of Franco Nevada by 116.1% in the fourth quarter. First Manhattan Co. now owns 1,117 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 600 shares during the last quarter. 67.87% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. TheStreet downgraded Franco Nevada from a “b” rating to a “c+” rating in a research report on Friday, April 5th. Deutsche Bank lifted their target price on Franco Nevada from $73.50 to $75.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Zacks Investment Research raised Franco Nevada from a “hold” rating to a “buy” rating and set a $84.00 target price on the stock in a research report on Tuesday, January 29th. Raymond James reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Franco Nevada in a research report on Thursday, March 21st. Finally, BMO Capital Markets reaffirmed an “average” rating and issued a $100.00 target price on shares of Franco Nevada in a research report on Friday, April 5th. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Franco Nevada presently has a consensus rating of “Hold” and an average target price of $89.86.
Franco Nevada stock opened at $74.60 on Monday. Franco Nevada Corp has a 52 week low of $58.26 and a 52 week high of $78.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 7.14 and a quick ratio of 7.14. The stock has a market cap of $13.96 billion, a P/E ratio of 63.76, a price-to-earnings-growth ratio of 14.55 and a beta of 0.13.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 19th. The basic materials company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.02). Franco Nevada had a return on equity of 4.62% and a net margin of 21.28%. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $157.37 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was down 11.4% on a year-over-year basis. As a group, sell-side analysts predict that Franco Nevada Corp will post 1.28 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco Nevada’s dividend payout ratio is presently 82.05%.
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Franco Nevada Profile
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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