Scotia Capital Inc. trimmed its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,372 shares of the basic materials company’s stock after selling 9,409 shares during the quarter. Scotia Capital Inc. owned about 0.07% of Franco-Nevada Corporation worth $9,328,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in FNV. FMR LLC raised its holdings in shares of Franco-Nevada Corporation by 7.5% in the second quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock valued at $1,068,190,000 after buying an additional 1,028,578 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Franco-Nevada Corporation by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock valued at $202,127,000 after buying an additional 646,929 shares during the last quarter. CIBC Asset Management Inc raised its holdings in shares of Franco-Nevada Corporation by 34.8% in the second quarter. CIBC Asset Management Inc now owns 1,966,527 shares of the basic materials company’s stock valued at $141,730,000 after buying an additional 507,518 shares during the last quarter. Barometer Capital Management Inc. raised its holdings in shares of Franco-Nevada Corporation by 4,017.1% in the second quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock valued at $20,797,000 after buying an additional 281,200 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in shares of Franco-Nevada Corporation by 33.5% in the second quarter. Fiera Capital Corp now owns 1,104,916 shares of the basic materials company’s stock valued at $79,584,000 after buying an additional 277,080 shares during the last quarter. 60.24% of the stock is owned by institutional investors and hedge funds.
Shares of Franco-Nevada Corporation (NYSE:FNV) traded up 0.45% during mid-day trading on Tuesday, reaching $79.85. The company’s stock had a trading volume of 209,850 shares. The company has a 50-day moving average of $80.34 and a 200-day moving average of $73.63. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $85.03. The firm has a market cap of $14.81 billion, a PE ratio of 100.69 and a beta of -0.12.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Wednesday, September 13th. Franco-Nevada Corporation’s payout ratio is 119.48%.
A number of research analysts recently issued reports on FNV shares. Zacks Investment Research raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 price target for the company in a report on Monday, July 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $64.00 price target (down from $65.00) on shares of Franco-Nevada Corporation in a report on Sunday, June 25th. ValuEngine raised Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. BidaskClub cut Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Credit Suisse Group set a $80.00 price target on Franco-Nevada Corporation and gave the company a “buy” rating in a report on Wednesday, June 14th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $80.83.
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Franco-Nevada Corporation Company 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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