CWA Asset Management Group LLC boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 89,863 shares of the basic materials company’s stock after purchasing an additional 6,064 shares during the period. Franco-Nevada Corporation makes up approximately 2.1% of CWA Asset Management Group LLC’s portfolio, making the stock its 11th biggest holding. CWA Asset Management Group LLC’s holdings in Franco-Nevada Corporation were worth $6,485,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of FNV. Van ECK Associates Corp raised its stake in Franco-Nevada Corporation by 6.6% during the first quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock worth $705,781,000 after purchasing an additional 666,196 shares during the period. Franklin Resources Inc. raised its stake in Franco-Nevada Corporation by 30.0% during the second quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock worth $202,127,000 after purchasing an additional 646,929 shares during the period. CIBC Asset Management Inc raised its stake in Franco-Nevada Corporation by 34.8% during the second quarter. CIBC Asset Management Inc now owns 1,966,527 shares of the basic materials company’s stock worth $141,730,000 after purchasing an additional 507,518 shares during the period. Barometer Capital Management Inc. raised its stake in Franco-Nevada Corporation by 4,017.1% during the second quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock worth $20,797,000 after purchasing an additional 281,200 shares during the period. Finally, Fiera Capital Corp raised its stake in Franco-Nevada Corporation by 33.5% during the second quarter. Fiera Capital Corp now owns 1,104,916 shares of the basic materials company’s stock worth $79,584,000 after purchasing an additional 277,080 shares during the period. 60.28% of the stock is currently owned by institutional investors.
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Franco-Nevada Corporation (NYSE:FNV) traded up 0.33% during midday trading on Tuesday, hitting $82.96. 150,275 shares of the stock traded hands. The company has a 50-day moving average price of $77.50 and a 200-day moving average price of $71.20. The firm has a market cap of $15.39 billion, a P/E ratio of 104.62 and a beta of -0.07. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $85.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. The firm 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 company’s revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.22 earnings per share. Analysts predict that Franco-Nevada Corporation will post $1.00 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
A number of equities analysts have weighed in on FNV shares. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Barclays PLC reaffirmed an “equal weight” rating and set a $74.00 price target (up previously from $68.00) on shares of Franco-Nevada Corporation in a research note on Tuesday, June 6th. BidaskClub downgraded shares of Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 10th. Raymond James Financial, Inc. reaffirmed an “outperform” rating and set a $85.00 price target on shares of Franco-Nevada Corporation in a research note on Thursday, June 15th. Finally, Credit Suisse Group set a $80.00 price target on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research note on Wednesday, June 14th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $80.65.
Franco-Nevada Corporation 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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