Tocqueville Asset Management L.P. lifted its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,007,950 shares of the basic materials company’s stock after purchasing an additional 26,545 shares during the period. Franco Nevada accounts for 1.0% of Tocqueville Asset Management L.P.’s holdings, making the stock its 14th biggest holding. Tocqueville Asset Management L.P. owned about 0.54% of Franco Nevada worth $75,605,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Franco Nevada by 143.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,854,956 shares of the basic materials company’s stock worth $116,027,000 after purchasing an additional 1,094,236 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Franco Nevada by 31.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 256,022 shares of the basic materials company’s stock worth $16,014,000 after acquiring an additional 61,558 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Franco Nevada by 12.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 66,233 shares of the basic materials company’s stock worth $4,143,000 after acquiring an additional 7,095 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Franco Nevada by 2.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 230,701 shares of the basic materials company’s stock worth $14,431,000 after acquiring an additional 5,028 shares during the last quarter. Finally, Nordea Investment Management AB acquired a new position in shares of Franco Nevada in the 3rd quarter worth $873,000. Institutional investors own 65.58% of the company’s stock.
FNV traded up $0.04 on Friday, hitting $73.54. 444,100 shares of the stock traded hands, compared to its average volume of 537,897. The company has a quick ratio of 4.14, a current ratio of 4.14 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $13.78 billion, a price-to-earnings ratio of 62.85, a P/E/G ratio of 14.62 and a beta of 0.10. Franco Nevada Corp has a 52 week low of $58.26 and a 52 week high of $78.82.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 8th. The basic materials company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.07. Franco Nevada had a return on equity of 4.64% and a net margin of 21.16%. The company had revenue of $179.80 million for the quarter, compared to the consensus estimate of $166.15 million. Equities research analysts expect that Franco Nevada Corp will post 1.3 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.36%. This is a boost from Franco Nevada’s previous quarterly dividend of $0.24. Franco Nevada’s dividend payout ratio is currently 82.05%.
FNV has been the subject of several recent analyst reports. Zacks Investment Research cut Franco Nevada from a “buy” rating to a “hold” rating in a research report on Thursday, March 14th. Raymond James reaffirmed an “outperform” rating and issued a $88.00 target price on shares of Franco Nevada in a research report on Monday, February 11th. Barclays cut Franco Nevada from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $74.00 to $73.00 in a research report on Tuesday, April 9th. Deutsche Bank boosted their price target on Franco Nevada from $73.50 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, April 10th. Finally, TheStreet lowered Franco Nevada from a “b” rating to a “c+” rating in a research note on Friday, April 5th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $83.93.
Franco Nevada Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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