CI Global Investments Inc. lessened its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 34.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 988,083 shares of the basic materials company’s stock after selling 513,977 shares during the period. Franco-Nevada Corporation accounts for 1.5% of CI Global Investments Inc.’s holdings, making the stock its 21st biggest holding. CI Global Investments Inc. owned about 0.53% of Franco-Nevada Corporation worth $76,557,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of FNV. PNC Financial Services Group Inc. lifted its holdings in Franco-Nevada Corporation by 40.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock valued at $236,000 after buying an additional 1,039 shares during the period. Capstone Asset Management Co. lifted its holdings in Franco-Nevada Corporation by 0.5% in the second quarter. Capstone Asset Management Co. now owns 23,100 shares of the basic materials company’s stock valued at $1,667,000 after buying an additional 120 shares during the period. Creative Planning lifted its holdings in Franco-Nevada Corporation by 132.6% in the second quarter. Creative Planning now owns 8,396 shares of the basic materials company’s stock valued at $606,000 after buying an additional 4,786 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new position in Franco-Nevada Corporation in the second quarter valued at $2,085,000. Finally, Aperio Group LLC raised its holdings in shares of Franco-Nevada Corporation by 353.1% during the second quarter. Aperio Group LLC now owns 25,842 shares of the basic materials company’s stock valued at $1,865,000 after purchasing an additional 20,138 shares during the period. Institutional investors own 59.46% of the company’s stock.
FNV has been the topic of several research reports. Credit Suisse Group set a $78.00 price objective on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a report on Tuesday, July 18th. Scotiabank upped their price objective on shares of Franco-Nevada Corporation from $79.50 to $82.00 and gave the company a “sector perform” rating in a report on Friday, September 8th. TD Securities set a $92.00 target price on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Thursday, October 19th. Canaccord Genuity reissued a “buy” rating and set a $121.00 target price on shares of Franco-Nevada Corporation in a research report on Tuesday, November 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research report on Thursday, September 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $85.80.
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Franco-Nevada Corporation (NYSE FNV) traded down $0.59 during midday trading on Tuesday, reaching $83.39. 345,700 shares of the company’s stock traded hands, compared to its average volume of 628,584. Franco-Nevada Corporation has a fifty-two week low of $53.31 and a fifty-two week high of $85.03. The stock has a market cap of $15,597.41, a PE ratio of 80.75, a PEG ratio of 19.84 and a beta of -0.14.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Franco-Nevada Corporation had a net margin of 22.12% and a return on equity of 4.31%. The business had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $167.07 million. During the same period in the prior year, the company posted $0.30 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. equities research analysts forecast that Franco-Nevada Corporation will post 1.06 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, December 6th. Franco-Nevada Corporation’s dividend payout ratio is presently 116.46%.
Franco-Nevada Corporation Company 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.
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