Cambridge Investment Research Advisors Inc. reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV – Free report) (TSE:FNV) by 4.5% in the 2nd quarter, according to its latest Form 13F filing with the Securities and Exchange Commission. The fund held 18,798 shares of the basic materials company after selling 883 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Franco-Nevada were worth $2,681,000 when it last filed with the SEC.
Several other institutional investors have also recently changed their positions in FNV. ClariVest Asset Management LLC increased its stake in Franco-Nevada by 0.3% in the first quarter. ClariVest Asset Management LLC now owns 20,790 shares of the basic materials company’s stock valued at $3,028,000 after purchasing an additional 70 shares during the last quarter. Van Hulzen Asset Management LLC increased its position in Franco-Nevada by 2.5% in the 1st quarter. Van Hulzen Asset Management LLC now owns 3,020 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 75 shares during the last quarter. IHT Wealth Management LLC increased its position in Franco-Nevada by 4.6% in the 4th quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 78 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Franco-Nevada by 5.3% in the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 1,640 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 83 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Franco-Nevada by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock valued at $626,000 after acquiring an additional 85 shares during the last quarter. 66.70% of the stock is held by institutional investors.
Franco-Nevada price performance
NYSE FNV opened at $133.49 Friday. The company’s 50-day simple moving average is $140.61 and its 200-day simple moving average is $145.37. Franco-Nevada Co. has a 12-month low of $111.27 and a 12-month high of $161.25. The company has a market capitalization of $25.64 billion, a P/E ratio of 38.69, a PEG ratio of 9.70, and a beta of 0.72.
Franco-Nevada (NYSE:FNV – Get a free report) (TSE:FNV) last released its quarterly results on Tuesday, August 8th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. The company had revenue of $329.90 million during the quarter, compared to analysts’ estimates of $324.06 million. Franco-Nevada had a return on equity of 10.20% and a net margin of 53.88%. The company’s revenue decreased by 6.4% compared to the same quarter last year. During the same period last year, the company reported EPS of $1.02. On average, analysts expect that Franco-Nevada Co. will post 3.4 earnings per share for the current year.
Franco-Nevada announces dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14 received a dividend of $0.34 per share. The ex-dividend date was Wednesday, September 13. This represents an annualized dividend of $1.36 and a yield of 1.02%. Franco-Nevada’s payout rate is currently 39.42%.
Analyst Rating Changes
FNV has been the subject of several recent analyst reports. Barclays lowered its price target on Franco-Nevada from $127.00 to $126.00 in a research note on Friday, July 7th. StockNews.com assumed coverage of Franco-Nevada stocks in a research report on Thursday, August 17. They issued a “hold” rating for the company. TD Securities lowered their target price on shares of Franco-Nevada from $190.00 to $180.00 and set a “buy” rating for the company in a research report issued on Thursday, August 10th. HC Wainwright increased their target price on shares of Franco-Nevada from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Stifel Nicolaus upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report released Friday, August 18. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $178.00.
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada and internationally. It operates through Mining and Energy segments. The Company manages its portfolio with a focus on precious metals, such as gold, silver and platinum group metals; and is engaged in the sale of crude oil, natural gas and natural gas liquids.
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