Sumitomo Mitsui Trust Holdings Inc. Purchases 43,087 Shares of Franco-Nevada Corp. (FNV)
Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Franco-Nevada Corp. (NYSE:FNV) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 586,902 shares of the company’s stock after buying an additional 43,087 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Franco-Nevada Corp. were worth $44,423,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in FNV. Essex Investment Management Co. LLC raised its position in Franco-Nevada Corp. by 451.4% in the second quarter. Essex Investment Management Co. LLC now owns 24,813 shares of the company’s stock valued at $1,887,000 after buying an additional 20,313 shares during the period. K.J. Harrison & Partners Inc raised its position in Franco-Nevada Corp. by 16.3% in the second quarter. K.J. Harrison & Partners Inc now owns 5,000 shares of the company’s stock valued at $378,000 after buying an additional 700 shares during the period. Shell Asset Management Co. raised its position in Franco-Nevada Corp. by 17.2% in the second quarter. Shell Asset Management Co. now owns 226,990 shares of the company’s stock valued at $22,299,000 after buying an additional 33,391 shares during the period. Highstreet Asset Management Inc. raised its position in Franco-Nevada Corp. by 585.1% in the second quarter. Highstreet Asset Management Inc. now owns 57,367 shares of the company’s stock valued at $4,361,000 after buying an additional 48,994 shares during the period. Finally, Palo Capital Inc. bought a new position in Franco-Nevada Corp. during the second quarter valued at approximately $426,000. 64.49% of the stock is currently owned by institutional investors and hedge funds.
Shares of Franco-Nevada Corp. (NYSE:FNV) traded up 2.12% on Monday, reaching $64.67. The company had a trading volume of 377,687 shares. The company’s 50-day moving average is $69.77 and its 200 day moving average is $70.59. The firm has a market capitalization of $11.52 billion, a PE ratio of 191.33 and a beta of 0.18. Franco-Nevada Corp. has a 12 month low of $41.47 and a 12 month high of $81.16.
Franco-Nevada Corp. (NYSE:FNV) last announced its earnings results on Monday, August 8th. The company reported $0.22 earnings per share 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 firm earned $150.90 million during the quarter, compared to the consensus estimate of $149.36 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 37.9% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada Corp. will post $0.90 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were paid a dividend of $0.22 per share. The ex-dividend date of this dividend was Tuesday, September 13th. This represents a $0.88 annualized dividend and a yield of 1.36%. Franco-Nevada Corp.’s payout ratio is 275.00%.
Several equities analysts recently commented on FNV shares. Vetr raised Franco-Nevada Corp. from a “strong sell” rating to a “sell” rating and set a $62.44 price target on the stock in a research report on Wednesday, June 22nd. Zacks Investment Research upgraded Franco-Nevada Corp. from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Tuesday, July 5th. Deutsche Bank AG restated a “sell” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. HSBC restated a “buy” rating on shares of Franco-Nevada Corp. in a report on Thursday, July 7th. Finally, Barclays PLC lifted their price objective on Franco-Nevada Corp. from $65.00 to $75.00 and gave the stock an “equal weight” rating in a report on Monday, August 8th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Franco-Nevada Corp. currently has a consensus rating of “Hold” and a consensus target price of $70.96.
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.
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corp. (NYSE:FNV).
Receive News & Ratings for Franco-Nevada Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada Corp. and related companies with MarketBeat.com's FREE daily email newsletter.