Virginia Retirement Systems ET AL bought a new position in Franco-Nevada Corp. (NYSE:FNV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,600 shares of the company’s stock, valued at approximately $2,769,000.

A number of other hedge funds have also recently bought and sold shares of FNV. Exane Derivatives increased its stake in shares of Franco-Nevada Corp. by 632.2% in the first quarter. Exane Derivatives now owns 1,911 shares of the company’s stock valued at $117,000 after buying an additional 1,650 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Franco-Nevada Corp. by 11.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,144 shares of the company’s stock valued at $193,000 after buying an additional 325 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Franco-Nevada Corp. by 65.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,788 shares of the company’s stock valued at $211,000 after buying an additional 1,100 shares in the last quarter. Berkeley Capital Partners LLC bought a new stake in shares of Franco-Nevada Corp. during the first quarter valued at about $236,000. Finally, Hartford Investment Management Co. increased its stake in shares of Franco-Nevada Corp. by 5.7% in the second quarter. Hartford Investment Management Co. now owns 3,742 shares of the company’s stock valued at $283,000 after buying an additional 202 shares in the last quarter. Institutional investors own 64.49% of the company’s stock.

Shares of Franco-Nevada Corp. (NYSE:FNV) opened at 73.81 on Friday. The firm’s 50-day moving average price is $74.65 and its 200 day moving average price is $70.07. The firm has a market capitalization of $13.15 billion, a price-to-earnings ratio of 218.37 and a beta of 0.18. Franco-Nevada Corp. has a 52 week low of $41.47 and a 52 week high of $81.16.

Franco-Nevada Corp. (NYSE:FNV) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. Franco-Nevada Corp. had a return on equity of 3.02% and a net margin of 11.05%. The company had revenue of $150.90 million for the quarter, compared to analysts’ expectations of $149.36 million. During the same period last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 37.9% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada Corp. will post $0.88 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 29th. Stockholders of record on Thursday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Tuesday, September 13th. Franco-Nevada Corp.’s dividend payout ratio (DPR) is presently 275.00%.

Several brokerages have recently issued reports on FNV. Vetr upgraded Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price objective on the stock in a research report on Wednesday, June 22nd. TheStreet downgraded Franco-Nevada Corp. from a “buy” rating to a “hold” rating in a research report on Monday, September 12th. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Deutsche Bank AG restated a “sell” rating on shares of Franco-Nevada Corp. in a research report on Thursday, July 7th. Finally, TD Securities restated a “hold” rating and issued a $77.00 price objective on shares of Franco-Nevada Corp. in a research report on Saturday, August 13th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $71.57.

Franco-Nevada Corp. Company Profile

Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company’s additional interests are in platinum group metals and other resource assets. The Company operates in the segment of resource sector royalty/stream acquisitions and management activities. The Company’s business model provides investors with gold price and exploration optionality.

5 Day Chart for NYSE:FNV

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