Franco-Nevada Corporation (FNV) Shares Sold by WFG Advisors LP
WFG Advisors LP lowered its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 17.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 9,138 shares of the basic materials company’s stock after selling 1,890 shares during the period. WFG Advisors LP’s holdings in Franco-Nevada Corporation were worth $659,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Advisory Services Network LLC raised its position in shares of Franco-Nevada Corporation by 199.0% during the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after buying an additional 1,001 shares during the last quarter. Hexavest Inc. raised its position in shares of Franco-Nevada Corporation by 50.7% during the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of Franco-Nevada Corporation during the second quarter valued at about $210,000. Schroder Investment Management Group acquired a new position in shares of Franco-Nevada Corporation during the first quarter valued at about $222,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Franco-Nevada Corporation by 40.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock valued at $236,000 after buying an additional 1,039 shares during the last quarter. 60.24% of the stock is owned by institutional investors and hedge funds.
Franco-Nevada Corporation (FNV) traded down 0.57% on Monday, reaching $80.31. 96,340 shares of the company traded hands. The firm has a market cap of $14.89 billion, a P/E ratio of 101.27 and a beta of -0.12. Franco-Nevada Corporation has a 52-week low of $53.31 and a 52-week high of $85.03. The stock has a 50-day moving average price of $80.51 and a 200-day moving average price of $74.05.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued 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 company had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 EPS. Analysts anticipate that Franco-Nevada Corporation will post $1.01 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend was Wednesday, September 13th. Franco-Nevada Corporation’s payout ratio is presently 119.48%.
FNV has been the subject of a number of research analyst reports. Deutsche Bank AG reaffirmed a “hold” rating and set a $64.00 price objective (down previously from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. BidaskClub raised shares of Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 price target for the company in a research report on Wednesday, July 12th. Barclays PLC dropped their price target on shares of Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 13th. Finally, Credit Suisse Group set a $78.00 price target on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $79.41.
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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