Toronto Dominion Bank decreased its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 50.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 771,589 shares of the basic materials company’s stock after selling 784,579 shares during the period. Toronto Dominion Bank owned 0.41% of Franco Nevada worth $65,477,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Franco Nevada in the 1st quarter valued at about $446,000. Janus Henderson Group PLC increased its position in Franco Nevada by 4.0% during the first quarter. Janus Henderson Group PLC now owns 80,616 shares of the basic materials company’s stock worth $6,045,000 after buying an additional 3,070 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Franco Nevada by 176.7% during the first quarter. Candriam Luxembourg S.C.A. now owns 10,710 shares of the basic materials company’s stock worth $803,000 after buying an additional 6,840 shares during the last quarter. Stevens Capital Management LP raised its stake in Franco Nevada by 6.8% in the first quarter. Stevens Capital Management LP now owns 4,119 shares of the basic materials company’s stock valued at $309,000 after buying an additional 261 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Franco Nevada by 3.3% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 104,462 shares of the basic materials company’s stock valued at $10,466,000 after buying an additional 3,300 shares during the period. 64.55% of the stock is currently owned by hedge funds and other institutional investors.
NYSE FNV traded up $0.22 on Wednesday, reaching $94.31. The stock had a trading volume of 97,430 shares, compared to its average volume of 635,158. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.67 and a quick ratio of 2.67. The firm has a fifty day moving average of $93.84 and a two-hundred day moving average of $81.38. Franco Nevada Corp has a 1-year low of $58.26 and a 1-year high of $101.19. The company has a market cap of $17.72 billion, a P/E ratio of 80.82, a price-to-earnings-growth ratio of 14.97 and a beta of 0.03.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, August 7th. The basic materials company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. The firm had revenue of $170.50 million for the quarter, compared to analysts’ expectations of $175.55 million. Franco Nevada had a return on equity of 4.83% and a net margin of 22.42%. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 EPS. Research analysts predict that Franco Nevada Corp will post 1.57 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be given a dividend of $0.439 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.86%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, September 11th. Franco Nevada’s dividend payout ratio (DPR) is currently 85.47%.
Several brokerages have recently commented on FNV. Barclays set a $89.00 target price on Franco Nevada and gave the stock a “hold” rating in a research note on Friday, July 19th. Deutsche Bank raised their price target on Franco Nevada from $81.00 to $88.00 and gave the company a “hold” rating in a report on Wednesday, August 14th. TD Securities lifted their price objective on shares of Franco Nevada from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Raymond James increased their price objective on shares of Franco Nevada from $98.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, ValuEngine cut shares of Franco Nevada from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $98.65.
Franco Nevada Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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