Tower Research Capital LLC TRC Buys 1,099 Shares of Franco-Nevada Corporation (FNV)
Tower Research Capital LLC TRC raised its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 42.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,688 shares of the basic materials company’s stock after acquiring an additional 1,099 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Franco-Nevada Corporation were worth $345,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FNV. Hexavest Inc. boosted its position in Franco-Nevada Corporation by 50.7% during the 2nd quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 559 shares in the last quarter. Blair William & Co. IL bought a new stake in Franco-Nevada Corporation during the 2nd quarter valued at $210,000. Schroder Investment Management Group bought a new stake in Franco-Nevada Corporation during the 1st quarter valued at $222,000. PNC Financial Services Group Inc. boosted its position in Franco-Nevada Corporation by 40.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 1,039 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Franco-Nevada Corporation by 0.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 30 shares in the last quarter. 60.24% of the stock is currently owned by institutional investors and hedge funds.
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Franco-Nevada Corporation (NYSE FNV) traded up 0.50% during mid-day trading on Tuesday, hitting $79.89. The stock had a trading volume of 96,331 shares. The stock has a market cap of $14.82 billion, a P/E ratio of 100.74 and a beta of -0.12. The firm has a 50-day moving average of $80.34 and a 200-day moving average of $73.63. Franco-Nevada Corporation has a 52-week low of $53.31 and a 52-week high of $85.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to analyst estimates of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. Franco-Nevada Corporation’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 earnings per share. On average, analysts forecast that Franco-Nevada Corporation will post $1.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 14th were issued a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
FNV has been the topic of several recent research reports. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $85.00 target price on shares of Franco-Nevada Corporation in a research report on Thursday, June 15th. Credit Suisse Group set a $80.00 target price on Franco-Nevada Corporation and gave the company a “buy” rating in a research report on Wednesday, June 14th. Deutsche Bank AG reaffirmed a “hold” rating and set a $64.00 target price (down previously from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. BidaskClub raised Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Finally, Zacks Investment Research raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a research report on Wednesday, July 12th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Franco-Nevada Corporation presently has a consensus rating of “Buy” and a consensus target price of $80.83.
Franco-Nevada Corporation Company Profile
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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