Aviva PLC Has $10 Million Position in Franco-Nevada Co. (NYSE:FNV)

Aviva PLC lifted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 68,928 shares of the basic materials company’s stock after acquiring an additional 5,826 shares during the period. Aviva PLC’s holdings in Franco-Nevada were worth $10,002,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in FNV. EdgePoint Investment Group Inc. lifted its position in shares of Franco-Nevada by 2,605.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 1,722,211 shares of the basic materials company’s stock valued at $215,280,000 after acquiring an additional 1,658,559 shares during the period. Jarislowsky Fraser Ltd raised its holdings in Franco-Nevada by 134.9% during the second quarter. Jarislowsky Fraser Ltd now owns 2,703,847 shares of the basic materials company’s stock worth $392,792,000 after buying an additional 1,552,784 shares during the last quarter. FIL Ltd raised its holdings in Franco-Nevada by 25.6% during the first quarter. FIL Ltd now owns 6,826,131 shares of the basic materials company’s stock worth $855,384,000 after buying an additional 1,389,449 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Franco-Nevada by 21.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 7,960,783 shares of the basic materials company’s stock worth $997,406,000 after buying an additional 1,383,808 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Franco-Nevada by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,401,881 shares of the basic materials company’s stock worth $676,884,000 after buying an additional 926,261 shares during the last quarter. Institutional investors own 68.15% of the company’s stock.

Several research analysts have weighed in on FNV shares. Raymond James upped their price objective on shares of Franco-Nevada from $166.00 to $172.00 and gave the stock an “outperform” rating in a report on Wednesday, June 9th. JPMorgan Chase & Co. downgraded shares of Franco-Nevada from a “neutral” rating to an “underweight” rating in a report on Tuesday, July 13th. Canaccord Genuity lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $200.00 target price for the company. in a research note on Friday, July 16th. Stifel Nicolaus upped their target price on shares of Franco-Nevada from C$189.00 to C$195.00 and gave the stock a “hold” rating in a research note on Wednesday, July 14th. Finally, Barclays lowered shares of Franco-Nevada from an “equal weight” rating to an “underweight” rating and set a $107.00 target price for the company. in a research note on Thursday, July 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Hold” and a consensus target price of $178.67.

Shares of NYSE:FNV opened at $141.47 on Wednesday. The firm has a market capitalization of $27.04 billion, a PE ratio of 39.85, a P/E/G ratio of 10.04 and a beta of 0.58. Franco-Nevada Co. has a twelve month low of $105.62 and a twelve month high of $163.79. The company has a 50-day moving average price of $149.43 and a two-hundred day moving average price of $142.11.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, August 11th. The basic materials company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.02. Franco-Nevada had a net margin of 54.62% and a return on equity of 11.94%. Sell-side analysts expect that Franco-Nevada Co. will post 3.53 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Wednesday, September 15th. Franco-Nevada’s payout ratio is 44.28%.

About Franco-Nevada

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded on October 17, 2007 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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