PCJ Investment Counsel Ltd. trimmed its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 91.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,720 shares of the basic materials company’s stock after selling 47,702 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Franco Nevada were worth $322,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Capital Fund Management S.A. increased its stake in Franco Nevada by 455.3% in the 4th quarter. Capital Fund Management S.A. now owns 3,332 shares of the basic materials company’s stock valued at $266,000 after buying an additional 2,732 shares during the period. Candriam Luxembourg S.C.A. acquired a new position in Franco Nevada in the 4th quarter valued at $254,000. Ontario Teachers Pension Plan Board acquired a new position in Franco Nevada in the 4th quarter valued at $553,000. Bank of Nova Scotia Trust Co. increased its stake in Franco Nevada by 28.4% in the 4th quarter. Bank of Nova Scotia Trust Co. now owns 91,937 shares of the basic materials company’s stock valued at $7,351,000 after buying an additional 20,321 shares during the period. Finally, AXA increased its stake in Franco Nevada by 27.2% in the 4th quarter. AXA now owns 46,519 shares of the basic materials company’s stock valued at $3,720,000 after buying an additional 9,951 shares during the period. 61.21% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have issued reports on the stock. Clarkson Capital reissued a “neutral” rating on shares of Franco Nevada in a research note on Monday, April 2nd. Zacks Investment Research lowered shares of Franco Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 12th. Raymond James decreased their target price on shares of Franco Nevada from $93.00 to $91.00 and set an “outperform” rating on the stock in a research report on Friday, March 9th. Credit Suisse Group set a $80.00 target price on shares of Franco Nevada and gave the stock a “hold” rating in a research report on Friday, March 9th. Finally, TD Securities decreased their target price on shares of Franco Nevada from $96.00 to $93.00 and set a “buy” rating on the stock in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $88.00.
Shares of Franco Nevada opened at $71.82 on Thursday, according to MarketBeat.com. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 66.50, a P/E/G ratio of 14.53 and a beta of 0.06. Franco Nevada Corp has a one year low of $66.19 and a one year high of $86.06.
Franco Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 9th. The basic materials company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.28 by $0.06. The company had revenue of $173.10 million for the quarter, compared to analyst estimates of $169.26 million. Franco Nevada had a net margin of 31.64% and a return on equity of 4.67%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.25 EPS. sell-side analysts predict that Franco Nevada Corp will post 1.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, June 14th will be given a dividend of $0.24 per share. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Wednesday, June 13th. Franco Nevada’s payout ratio is presently 85.19%.
About Franco Nevada
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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).
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.