Verition Fund Management LLC Invests $941,000 in Franco-Nevada Co. (NYSE:FNV)

Verition Fund Management LLC purchased a new position in Franco-Nevada Co. (NYSE:FNVGet Rating) (TSE:FNV) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,897 shares of the basic materials company’s stock, valued at approximately $941,000.

Several other large investors have also recently modified their holdings of FNV. Dimensional Fund Advisors LP raised its position in shares of Franco-Nevada by 11.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 56,173 shares of the basic materials company’s stock worth $7,768,000 after purchasing an additional 5,544 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Franco-Nevada by 3.2% in the 4th quarter. Ensign Peak Advisors Inc now owns 9,623 shares of the basic materials company’s stock worth $1,333,000 after buying an additional 300 shares in the last quarter. Geode Capital Management LLC increased its holdings in Franco-Nevada by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 537,220 shares of the basic materials company’s stock worth $74,205,000 after buying an additional 32,871 shares in the last quarter. Invesco Ltd. increased its holdings in Franco-Nevada by 15.5% in the 4th quarter. Invesco Ltd. now owns 309,214 shares of the basic materials company’s stock worth $42,761,000 after buying an additional 41,572 shares in the last quarter. Finally, Hilltop Holdings Inc. increased its holdings in Franco-Nevada by 23.2% in the 4th quarter. Hilltop Holdings Inc. now owns 3,791 shares of the basic materials company’s stock worth $525,000 after buying an additional 715 shares in the last quarter. Hedge funds and other institutional investors own 66.64% of the company’s stock.

Franco-Nevada Stock Up 0.1 %

Franco-Nevada stock opened at $118.82 on Thursday. Franco-Nevada Co. has a 52-week low of $115.44 and a 52-week high of $169.32. The company has a market cap of $22.75 billion, a P/E ratio of 29.71, a P/E/G ratio of 8.38 and a beta of 0.64. The business has a 50-day simple moving average of $125.94 and a two-hundred day simple moving average of $140.72.

Franco-Nevada (NYSE:FNVGet Rating) (TSE:FNV) last posted its quarterly earnings data on Wednesday, August 10th. The basic materials company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.06. Franco-Nevada had a return on equity of 11.57% and a net margin of 57.33%. The firm had revenue of $352.30 million for the quarter, compared to analysts’ expectations of $348.83 million. During the same period in the previous year, the firm earned $0.96 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. Research analysts anticipate that Franco-Nevada Co. will post 3.6 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.08%. Franco-Nevada’s payout ratio is currently 32.00%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. National Bank Financial reduced their price objective on Franco-Nevada from C$225.00 to C$205.00 in a report on Thursday, July 21st. HC Wainwright lifted their price objective on Franco-Nevada from $144.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 11th. KeyCorp reduced their price objective on Franco-Nevada from $180.00 to $143.00 and set an “overweight” rating for the company in a report on Monday, July 18th. TD Securities reduced their price objective on Franco-Nevada from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, August 12th. Finally, Raymond James cut their price target on Franco-Nevada from $176.00 to $175.00 and set an “outperform” rating for the company in a research note on Friday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $169.38.

Franco-Nevada Profile

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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.

See Also

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

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