Veritas Investment Management UK Ltd lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 242,511 shares of the basic materials company’s stock after selling 4,160 shares during the quarter. Franco-Nevada Corporation accounts for about 8.3% of Veritas Investment Management UK Ltd’s holdings, making the stock its 2nd largest position. Veritas Investment Management UK Ltd owned approximately 0.13% of Franco-Nevada Corporation worth $23,441,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Franco-Nevada Corporation by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,900 shares of the basic materials company’s stock valued at $1,550,000 after acquiring an additional 800 shares during the period. Vanguard Group Inc. raised its holdings in shares of Franco-Nevada Corporation by 3.6% during the second quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock valued at $304,643,000 after acquiring an additional 145,698 shares during the period. Sentry Investments Corp. acquired a new stake in shares of Franco-Nevada Corporation during the second quarter valued at approximately $6,803,000. Alliancebernstein L.P. raised its holdings in shares of Franco-Nevada Corporation by 22.1% during the second quarter. Alliancebernstein L.P. now owns 56,051 shares of the basic materials company’s stock valued at $4,045,000 after acquiring an additional 10,143 shares during the period. Finally, Kingfisher Capital LLC increased its stake in Franco-Nevada Corporation by 5.2% in the 2nd quarter. Kingfisher Capital LLC now owns 37,826 shares of the basic materials company’s stock valued at $2,730,000 after buying an additional 1,862 shares during the period. Institutional investors and hedge funds own 59.46% of the company’s stock.

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Several research firms have weighed in on FNV. Scotiabank upped their price objective on shares of Franco-Nevada Corporation from $79.50 to $82.00 and gave the company a “sector perform” rating in a research note on Friday, September 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. Canaccord Genuity reiterated a “buy” rating and issued a $121.00 price objective on shares of Franco-Nevada Corporation in a research note on Tuesday, November 7th. TD Securities upped their price objective on shares of Franco-Nevada Corporation from $92.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, November 7th. Finally, Zacks Investment Research upgraded shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.80.

Franco-Nevada Corporation (NYSE FNV) traded down $0.50 during mid-day trading on Monday, reaching $83.98. 433,200 shares of the company’s stock traded hands, compared to its average volume of 629,881. The company has a market capitalization of $15,600.00, a P/E ratio of 80.75, a price-to-earnings-growth ratio of 19.84 and a beta of -0.14. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $85.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. Franco-Nevada Corporation had a net margin of 22.12% and a return on equity of 4.31%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. equities research analysts forecast that Franco-Nevada Corporation will post 1.06 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, December 6th. Franco-Nevada Corporation’s dividend payout ratio is 113.58%.

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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Institutional Ownership by Quarter for Franco-Nevada Corporation (NYSE:FNV)

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