Franco-Nevada Corporation (NYSE:FNV) Stake Reduced by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. reduced its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,315 shares of the basic materials company’s stock after selling 251 shares during the period. Rothschild Asset Management Inc.’s holdings in Franco-Nevada Corporation were worth $778,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its stake in Franco-Nevada Corporation by 7.1% in the first quarter. Wells Fargo & Company MN now owns 40,245 shares of the basic materials company’s stock worth $2,636,000 after buying an additional 2,652 shares during the period. CGOV Asset Management increased its position in shares of Franco-Nevada Corporation by 4.0% in the first quarter. CGOV Asset Management now owns 41,400 shares of the basic materials company’s stock worth $3,613,000 after buying an additional 1,600 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Franco-Nevada Corporation by 1.5% in the first quarter. AQR Capital Management LLC now owns 504,685 shares of the basic materials company’s stock worth $32,968,000 after buying an additional 7,472 shares in the last quarter. State of Wisconsin Investment Board increased its position in shares of Franco-Nevada Corporation by 7.8% in the first quarter. State of Wisconsin Investment Board now owns 148,698 shares of the basic materials company’s stock worth $9,714,000 after buying an additional 10,739 shares in the last quarter. Finally, Korea Investment CORP bought a new position in shares of Franco-Nevada Corporation during the first quarter worth approximately $720,000. 63.49% of the stock is currently owned by institutional investors.
Franco-Nevada Corporation (NYSE FNV) opened at 75.30 on Thursday. The company has a market capitalization of $13.61 billion, a P/E ratio of 98.95 and a beta of -0.03. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $80.00. The stock’s 50 day moving average is $72.51 and its 200-day moving average is $69.02.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.49%. The business had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. During the same quarter in the prior year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Franco-Nevada Corporation will post $0.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be issued a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. The ex-dividend date is Wednesday, September 13th. Franco-Nevada Corporation’s payout ratio is 119.48%.
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FNV has been the topic of a number of research analyst reports. Deutsche Bank AG restated a “hold” rating and issued a $64.00 target price (down from $65.00) on shares of Franco-Nevada Corporation in a research note on Sunday, June 25th. Zacks Investment Research upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Monday, July 24th. ValuEngine upgraded shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub downgraded shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $75.35.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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