Cambridge Investment Research Advisors Inc. decreased its holdings in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 2.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,681 shares of the basic materials company's stock after selling 433 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Franco-Nevada were worth $2,195,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Integrated Advisors Network LLC boosted its stake in shares of Franco-Nevada by 2.4% in the 1st quarter. Integrated Advisors Network LLC now owns 3,174 shares of the basic materials company's stock valued at $506,000 after purchasing an additional 73 shares in the last quarter. CLARET ASSET MANAGEMENT Corp raised its holdings in Franco-Nevada by 3.6% during the 1st quarter. CLARET ASSET MANAGEMENT Corp now owns 2,165 shares of the basic materials company's stock valued at $345,000 after buying an additional 75 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in Franco-Nevada by 19.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 569 shares of the basic materials company's stock valued at $75,000 after buying an additional 91 shares during the last quarter. Credit Agricole S A raised its holdings in Franco-Nevada by 8.7% during the 4th quarter. Credit Agricole S A now owns 1,250 shares of the basic materials company's stock valued at $173,000 after buying an additional 100 shares during the last quarter. Finally, Pacifica Partners Inc. raised its holdings in Franco-Nevada by 8.9% during the 1st quarter. Pacifica Partners Inc. now owns 1,227 shares of the basic materials company's stock valued at $183,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 66.64% of the company's stock.
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Analysts Set New Price Targets
A number of research firms recently commented on FNV. Stifel Nicolaus upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Wednesday, July 20th. The Goldman Sachs Group began coverage on shares of Franco-Nevada in a report on Monday, September 12th. They issued a "neutral" rating for the company. Raymond James decreased their price objective on shares of Franco-Nevada from $176.00 to $175.00 and set an "outperform" rating for the company in a report on Friday, August 12th. HC Wainwright upped their price objective on shares of Franco-Nevada from $144.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, August 11th. Finally, National Bank Financial decreased their price objective on shares of Franco-Nevada from C$225.00 to C$205.00 in a report on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $169.38.
Franco-Nevada Price Performance
NYSE:FNV opened at $118.12 on Friday. The firm's 50-day moving average price is $124.71 and its 200-day moving average price is $138.87. The company has a market capitalization of $22.62 billion, a PE ratio of 29.53, a P/E/G ratio of 7.82 and a beta of 0.64. Franco-Nevada Co. has a 1-year low of $109.70 and a 1-year high of $169.32.
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last released its earnings results on Wednesday, August 10th. The basic materials company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.06. The firm had revenue of $352.30 million for the quarter, compared to the consensus estimate of $348.83 million. Franco-Nevada had a net margin of 57.33% and a return on equity of 11.57%. The company's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. Equities analysts anticipate that Franco-Nevada Co. will post 3.6 EPS for the current fiscal year.
Franco-Nevada Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 15th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, September 14th. Franco-Nevada's dividend payout ratio (DPR) is 32.00%.
Franco-Nevada Company Profile
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Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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