APG Asset Management N.V. raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,757,541 shares of the basic materials company’s stock after buying an additional 63,000 shares during the period. APG Asset Management N.V. owned about 0.97% of Franco-Nevada Corporation worth $164,453,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in FNV. Hexavest Inc. raised its position in shares of Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock worth $120,000 after buying an additional 559 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Franco-Nevada Corporation by 224.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,353 shares of the basic materials company’s stock worth $199,000 after buying an additional 2,320 shares during the period. Stratos Wealth Partners LTD. acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth about $201,000. Schroder Investment Management Group acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth about $222,000. Finally, Gluskin Sheff & Assoc Inc. acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth about $225,000. Institutional investors own 63.41% of the company’s stock.
Shares of Franco-Nevada Corporation (FNV) traded down 0.71% during midday trading on Friday, hitting $78.03. The stock had a trading volume of 534,988 shares. The firm has a market capitalization of $14.47 billion, a PE ratio of 98.40 and a beta of -0.03. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $79.67. The firm’s 50-day moving average price is $73.46 and its 200-day moving average price is $69.71.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.25. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The business had revenue of $163.60 million for the quarter, compared to analyst estimates of $164.62 million. During the same period last year, the company earned $0.22 EPS. The firm’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada Corporation will post $0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a $0.23 dividend. The ex-dividend date is Wednesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. Franco-Nevada Corporation’s dividend payout ratio is currently 119.48%.
A number of research analysts have issued reports on FNV shares. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, July 12th. BidaskClub lowered Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Credit Suisse Group set a $80.00 price objective on Franco-Nevada Corporation and gave the company a “buy” rating in a report on Wednesday, June 14th. TD Securities restated a “buy” rating on shares of Franco-Nevada Corporation in a report on Wednesday, May 10th. Finally, Barclays PLC restated an “equal weight” rating and issued a $74.00 price objective (up previously from $68.00) on shares of Franco-Nevada Corporation in a report on Tuesday, June 6th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Franco-Nevada Corporation has an average rating of “Buy” and an average price target of $78.89.
About Franco-Nevada Corporation
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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