EdgePoint Investment Group Inc. Continues to Hold Stake in Franco-Nevada Corporation (FNV)

EdgePoint Investment Group Inc. maintained its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 259,730 shares of the basic materials company’s stock at the end of the second quarter. EdgePoint Investment Group Inc. owned 0.14% of Franco-Nevada Corporation worth $18,741,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Van ECK Associates Corp increased its position in shares of Franco-Nevada Corporation by 6.6% during the 1st 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 last quarter. Vanguard Group Inc. increased its position in shares of Franco-Nevada Corporation by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 4,076,074 shares of the basic materials company’s stock worth $267,023,000 after purchasing an additional 189,705 shares during the last quarter. TD Asset Management Inc. increased its position in shares of Franco-Nevada Corporation by 6.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,432,041 shares of the basic materials company’s stock worth $247,287,000 after purchasing an additional 194,998 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Franco-Nevada Corporation by 30.0% during the 2nd 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 last quarter. Finally, CIBC World Markets Inc. increased its position in shares of Franco-Nevada Corporation by 3.7% during the 2nd quarter. CIBC World Markets Inc. now owns 2,565,447 shares of the basic materials company’s stock worth $185,123,000 after purchasing an additional 90,845 shares during the last quarter. 60.28% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Corporation (NYSE FNV) traded down 1.27% during mid-day trading on Friday, reaching $80.89. The company had a trading volume of 748,362 shares. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 102.01 and a beta of -0.07. The stock has a 50-day moving average of $78.77 and a 200 day moving average of $71.68. Franco-Nevada Corporation has a 12-month low of $53.31 and a 12-month high of $85.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.25. The company had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. Franco-Nevada Corporation’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post $1.00 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio is currently 119.48%.

Several research analysts have weighed in on FNV shares. BidaskClub lowered Franco-Nevada Corporation from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Barclays PLC reduced their target price on Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a research note on Thursday, July 13th. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Monday, July 24th. Scotiabank lifted their target price on Franco-Nevada Corporation from $78.00 to $79.50 and gave the stock a “sector perform” rating in a research note on Thursday, August 10th. Finally, TD Securities lifted their target price on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $80.65.

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

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