NN Investment Partners Holdings N.V. maintained its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,884 shares of the basic materials company’s stock at the end of the second quarter. NN Investment Partners Holdings N.V.’s holdings in Franco-Nevada Corporation were worth $713,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Hexavest Inc. raised its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the last quarter. Gluskin Sheff & Assoc Inc. bought a new position in shares of Franco-Nevada Corporation during the first quarter valued at approximately $225,000. Schroder Investment Management Group bought a new position in shares of Franco-Nevada Corporation during the first quarter valued at approximately $222,000. Stratos Wealth Partners LTD. bought a new position in shares of Franco-Nevada Corporation during the first quarter valued at approximately $201,000. Finally, 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 valued at $199,000 after buying an additional 2,320 shares during the last quarter. 63.41% of the stock is owned by institutional investors and hedge funds.
Shares of Franco-Nevada Corporation (FNV) traded down 0.71% during trading on Friday, reaching $78.03. 534,988 shares of the company traded hands. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $79.67. The stock’s 50 day moving average is $73.46 and its 200 day moving average is $69.71. The company has a market capitalization of $14.47 billion, a price-to-earnings ratio of 98.40 and a beta of -0.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 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 during the quarter, compared to analysts’ expectations of $164.62 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, analysts forecast 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 paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
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Several equities analysts recently commented on the stock. Scotiabank increased their price objective on shares of Franco-Nevada Corporation from $78.00 to $79.50 and gave the company a “sector perform” rating in a research report on Thursday, August 10th. TD Securities increased their price objective on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. BidaskClub raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Zacks Investment Research raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Wednesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $74.00 price objective (up from $68.00) on shares of Franco-Nevada Corporation in a research report on Tuesday, June 6th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Franco-Nevada Corporation presently 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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