Veriti Management LLC trimmed its holdings in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 9.8% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 5,817 shares of the basic materials company’s stock after selling 633 shares during the quarter. Veriti Management LLC’s holdings in Franco-Nevada were worth $928,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC bought a new stake in Franco-Nevada in the 4th quarter worth about $25,000. Eagle Bay Advisors LLC bought a new stake in Franco-Nevada in the 4th quarter worth about $42,000. FinTrust Capital Advisors LLC increased its holdings in Franco-Nevada by 107.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 327 shares of the basic materials company’s stock worth $42,000 after buying an additional 169 shares in the last quarter. Huntington National Bank boosted its position in Franco-Nevada by 96.9% in the fourth quarter. Huntington National Bank now owns 384 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 189 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in Franco-Nevada by 1,812.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 478 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 453 shares during the last quarter. Institutional investors own 75.52% of the company’s stock.
Several brokerages have issued reports on FNV. Stifel Nicolaus raised their target price on Franco-Nevada from C$200.00 to C$205.00 in a research report on Friday, March 11th. Canaccord Genuity Group cut Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. StockNews.com began coverage on Franco-Nevada in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays raised their target price on Franco-Nevada from $113.00 to $130.00 in a research report on Thursday, April 21st. Finally, HC Wainwright raised their target price on Franco-Nevada from $167.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, March 11th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $189.25.
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.02). The business had revenue of $338.80 million for the quarter, compared to the consensus estimate of $335.27 million. Franco-Nevada had a net margin of 55.96% and a return on equity of 11.55%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.84 EPS. As a group, equities analysts forecast that Franco-Nevada Co. will post 3.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, June 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, June 15th. Franco-Nevada’s dividend payout ratio (DPR) is presently 32.82%.
About Franco-Nevada (Get Rating)
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
- Get a free copy of the StockNews.com research report on Franco-Nevada (FNV)
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