FIL Ltd trimmed its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 7.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,536,743 shares of the basic materials company’s stock after selling 503,083 shares during the quarter. FIL Ltd owned approximately 3.51% of Franco Nevada worth $408,904,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. Tuttle Tactical Management purchased a new stake in Franco Nevada in the 2nd quarter valued at $111,000. Stratos Wealth Partners LTD. purchased a new stake in Franco Nevada in the 3rd quarter valued at $146,000. Janney Montgomery Scott LLC purchased a new stake in Franco Nevada in the 2nd quarter valued at $218,000. Community Financial Services Group LLC purchased a new stake in Franco Nevada in the 2nd quarter valued at $219,000. Finally, Cumberland Partners Ltd purchased a new stake in Franco Nevada in the 2nd quarter valued at $234,000. Hedge funds and other institutional investors own 64.98% of the company’s stock.

Shares of Franco Nevada stock opened at $68.35 on Wednesday. Franco Nevada Corp has a 52 week low of $58.26 and a 52 week high of $86.06. The firm has a market capitalization of $12.57 billion, a PE ratio of 63.29, a price-to-earnings-growth ratio of 14.45 and a beta of -0.13.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Franco Nevada had a return on equity of 4.76% and a net margin of 31.81%. The business had revenue of $170.60 million for the quarter, compared to analyst estimates of $158.85 million. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s quarterly revenue was down .5% on a year-over-year basis. Sell-side analysts expect that Franco Nevada Corp will post 1.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 20th. Investors of record on Thursday, December 6th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.40%. The ex-dividend date is Wednesday, December 5th. Franco Nevada’s payout ratio is 88.89%.

Several equities analysts have recently commented on FNV shares. Royal Bank of Canada reaffirmed a “buy” rating on shares of Franco Nevada in a research note on Wednesday, November 7th. TD Securities decreased their price target on Franco Nevada from $82.00 to $79.00 and set a “buy” rating on the stock in a research note on Wednesday, November 7th. Desjardins raised Franco Nevada from a “sell” rating to a “hold” rating in a research note on Saturday, October 6th. Deutsche Bank set a $74.00 price target on Franco Nevada and gave the company a “hold” rating in a research note on Tuesday, October 2nd. Finally, ValuEngine raised Franco Nevada from a “sell” rating to a “hold” rating in a research note on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $80.71.

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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.

Read More: Yield Curve

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

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