Legal & General Group Plc lifted its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 2.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 857,837 shares of the basic materials company’s stock after acquiring an additional 23,953 shares during the quarter. Legal & General Group Plc owned approximately 0.46% of Franco Nevada worth $66,300,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Franco Nevada by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,900 shares of the basic materials company’s stock valued at $1,550,000 after acquiring an additional 800 shares in the last quarter. Vanguard Group Inc. raised its holdings in Franco Nevada by 3.6% in the second quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock worth $304,643,000 after purchasing an additional 145,698 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in Franco Nevada in the third quarter worth $2,065,000. Sentry Investments Corp. bought a new position in Franco Nevada in the second quarter worth $6,803,000. Finally, Kingfisher Capital LLC raised its holdings in Franco Nevada by 5.2% in the second quarter. Kingfisher Capital LLC now owns 37,826 shares of the basic materials company’s stock worth $2,730,000 after purchasing an additional 1,862 shares in the last quarter. Institutional investors own 61.48% of the company’s stock.
A number of research firms have issued reports on FNV. TD Securities set a $96.00 price objective on Franco Nevada and gave the stock a “buy” rating in a report on Friday. Zacks Investment Research downgraded Franco Nevada from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Scotiabank increased their price objective on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. Canaccord Genuity reiterated a “buy” rating and issued a $121.00 price objective on shares of Franco Nevada in a report on Tuesday, November 7th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $100.00 price objective on shares of Franco Nevada in a report on Monday, October 23rd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $85.70.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The firm had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $167.07 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. equities analysts expect that Franco Nevada Corp will post 1.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.14%. Franco Nevada’s dividend payout ratio is currently 116.46%.
COPYRIGHT VIOLATION WARNING: “Franco Nevada Corp (FNV) Position Boosted by Legal & General Group Plc” was originally published by Community Financial News and is the property of of Community Financial News. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.com-unik.info/2017/12/04/franco-nevada-corp-fnv-position-boosted-by-legal-general-group-plc.html.
Franco Nevada 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.
Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).
What are top analysts saying about Franco Nevada Corp? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Franco Nevada Corp and related companies.