FMR LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,978,416 shares of the basic materials company's stock after selling 279,885 shares during the period. FMR LLC owned 5.18% of Franco-Nevada worth $1,239,388,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at about $276,446,000. EdgePoint Investment Group Inc. lifted its holdings in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company's stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock valued at $86,287,000 after purchasing an additional 706,919 shares during the period. Victory Capital Management Inc. grew its stake in Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after buying an additional 424,810 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in Franco-Nevada by 25.4% in the second quarter. National Bank of Canada FI now owns 1,351,218 shares of the basic materials company's stock valued at $159,178,000 after buying an additional 274,069 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.
Franco-Nevada Stock Performance
Shares of NYSE:FNV traded up $0.22 during trading hours on Wednesday, hitting $122.79. 92,084 shares of the company's stock traded hands, compared to its average volume of 666,369. The company's fifty day simple moving average is $125.97 and its two-hundred day simple moving average is $123.77. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The company has a market cap of $23.64 billion, a price-to-earnings ratio of -39.00, a price-to-earnings-growth ratio of 20.38 and a beta of 0.75.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. On average, analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.
Analyst Ratings Changes
A number of analysts recently weighed in on FNV shares. StockNews.com raised shares of Franco-Nevada from a "sell" rating to a "hold" rating in a report on Thursday, August 22nd. Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. TD Cowen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. HC Wainwright boosted their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, TD Securities raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus target price of $148.86.
Check Out Our Latest Analysis on FNV
Franco-Nevada Company Profile
(
Free Report)
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.
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