TD Asset Management Inc. increased its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,583,740 shares of the basic materials company’s stock after purchasing an additional 35,747 shares during the period. TD Asset Management Inc. owned approximately 1.38% of Franco Nevada worth $219,750,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. AlphaCrest Capital Management LLC boosted its holdings in Franco Nevada by 27.7% in the first quarter. AlphaCrest Capital Management LLC now owns 12,597 shares of the basic materials company’s stock worth $945,000 after acquiring an additional 2,732 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Franco Nevada by 3.0% in the first quarter. Swiss National Bank now owns 1,466,700 shares of the basic materials company’s stock valued at $109,996,000 after purchasing an additional 42,600 shares in the last quarter. Addenda Capital Inc. lifted its holdings in shares of Franco Nevada by 24.3% in the second quarter. Addenda Capital Inc. now owns 364,581 shares of the basic materials company’s stock valued at $31,011,000 after purchasing an additional 71,160 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Franco Nevada in the first quarter valued at approximately $320,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Franco Nevada by 9.2% in the first quarter. Parametric Portfolio Associates LLC now owns 109,119 shares of the basic materials company’s stock valued at $8,189,000 after purchasing an additional 9,175 shares in the last quarter. 65.41% of the stock is owned by institutional investors and hedge funds.
Shares of FNV traded down $0.88 on Tuesday, reaching $93.27. 833,677 shares of the company’s stock traded hands, compared to its average volume of 598,479. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.67 and a current ratio of 2.67. The firm has a market capitalization of $17.55 billion, a PE ratio of 79.72, a PEG ratio of 16.05 and a beta of 0.06. The business has a 50 day moving average price of $87.89. Franco Nevada Corp has a 52-week low of $58.26 and a 52-week high of $95.41.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The company had revenue of $170.50 million during the quarter, compared to the consensus estimate of $175.55 million. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. Franco Nevada’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $0.29 earnings per share. As a group, analysts forecast that Franco Nevada Corp will post 1.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.439 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.88%. This is an increase from Franco Nevada’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, September 11th. Franco Nevada’s dividend payout ratio (DPR) is presently 85.47%.
FNV has been the topic of a number of recent research reports. TheStreet upgraded Franco Nevada from a “c+” rating to a “b-” rating in a report on Tuesday, June 18th. TD Securities raised their target price on Franco Nevada from $105.00 to $110.00 and gave the company a “buy” rating in a report on Friday. GMP Securities lowered Franco Nevada from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Raymond James raised their target price on Franco Nevada from $98.00 to $100.00 and gave the company an “outperform” rating in a report on Friday. Finally, Barclays set a $89.00 target price on Franco Nevada and gave the company a “hold” rating in a report on Friday, July 19th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $95.84.
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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