Franco Nevada Corp (FNV) Position Boosted by Legal & General Group Plc

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 Corp (NYSE FNV) traded down $0.08 during midday trading on Monday, hitting $80.57. The stock had a trading volume of 81,860 shares, compared to its average volume of 623,688. Franco Nevada Corp has a 52-week low of $53.31 and a 52-week high of $86.06. The stock has a market capitalization of $14,978.94, a PE ratio of 77.55, a P/E/G ratio of 19.02 and a beta of -0.14.

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%.

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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.

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Institutional Ownership by Quarter for Franco Nevada (NYSE:FNV)

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