Bank of Nova Scotia lifted its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 5.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 602,288 shares of the basic materials company’s stock after acquiring an additional 32,291 shares during the period. Bank of Nova Scotia owned 0.32% of Franco Nevada worth $43,770,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of FNV. Wells Fargo & Company MN lifted its holdings in Franco Nevada by 6.8% in the first quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock worth $1,002,000 after purchasing an additional 939 shares during the period. Trexquant Investment LP acquired a new stake in Franco Nevada in the first quarter worth about $297,000. Aperio Group LLC lifted its holdings in Franco Nevada by 33.5% in the first quarter. Aperio Group LLC now owns 75,209 shares of the basic materials company’s stock worth $5,144,000 after purchasing an additional 18,876 shares during the period. Stevens Capital Management LP acquired a new stake in Franco Nevada in the first quarter worth about $366,000. Finally, Korea Investment CORP lifted its holdings in Franco Nevada by 85.7% in the first quarter. Korea Investment CORP now owns 22,641 shares of the basic materials company’s stock worth $1,544,000 after purchasing an additional 10,451 shares during the period. 63.59% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE FNV opened at $63.43 on Tuesday. Franco Nevada Corp has a twelve month low of $58.26 and a twelve month high of $86.06. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 13.07 and a beta of -0.19.

Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.29. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The company had revenue of $161.30 million during the quarter, compared to the consensus estimate of $169.46 million. During the same period in the prior year, the company earned $0.25 EPS. Franco Nevada’s revenue was down 1.4% on a year-over-year basis. equities research analysts anticipate that Franco Nevada Corp will post 1.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, September 13th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Wednesday, September 12th. Franco Nevada’s payout ratio is 88.89%.

Several research firms recently weighed in on FNV. Desjardins raised shares of Franco Nevada from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Macquarie downgraded shares of Franco Nevada from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 10th. TD Securities set a $93.00 price objective on shares of Franco Nevada and gave the stock a “buy” rating in a report on Tuesday, August 7th. ValuEngine downgraded shares of Franco Nevada from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Franco Nevada in a report on Monday, September 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $93.71.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

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

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