Franklin Resources Inc. lessened its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,879,123 shares of the basic materials company’s stock after selling 6,860 shares during the quarter. Franklin Resources Inc.’s holdings in Franco Nevada were worth $230,022,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. lifted its holdings in Franco Nevada by 453.9% in the third quarter. Advisors Asset Management Inc. now owns 1,922 shares of the basic materials company’s stock valued at $149,000 after buying an additional 1,575 shares during the period. Lombard Odier Asset Management Europe Ltd acquired a new position in Franco Nevada in the fourth quarter valued at $237,000. American International Group Inc. acquired a new position in Franco Nevada in the fourth quarter valued at $197,000. Cigna Investments Inc. New acquired a new position in Franco Nevada in the fourth quarter valued at $203,000. Finally, Gratus Capital LLC acquired a new position in Franco Nevada in the third quarter valued at $201,000. Institutional investors own 63.37% of the company’s stock.
Shares of Franco Nevada Corp (FNV) opened at $68.17 on Monday. Franco Nevada Corp has a 52 week low of $60.57 and a 52 week high of $86.06. The firm has a market cap of $12,674.87, a price-to-earnings ratio of 63.12, a price-to-earnings-growth ratio of 14.10 and a beta of -0.02.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Thursday, March 15th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Wednesday, March 14th. Franco Nevada’s dividend payout ratio (DPR) is currently 87.62%.
Several equities analysts recently issued reports on FNV shares. TD Securities set a $96.00 target price on shares of Franco Nevada and gave the company a “buy” rating in a report on Friday, December 1st. Zacks Investment Research upgraded shares of Franco Nevada from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Tuesday, January 9th. Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the company a “hold” rating in a report on Friday. Scotiabank set a $86.00 target price on shares of Franco Nevada and gave the company a “hold” rating in a report on Monday, January 22nd. Finally, Raymond James Financial dropped their target price on shares of Franco Nevada from $93.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $88.00.
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Franco Nevada 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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