PKO Investment Management Joint Stock Co Trims Position in Franco-Nevada Co. (NYSE:FNV)

PKO Investment Management Joint Stock Co decreased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 14.0% during the first quarter, Holdings Channel reports. The fund owned 52,164 shares of the basic materials company’s stock after selling 8,500 shares during the period. Franco-Nevada comprises approximately 0.9% of PKO Investment Management Joint Stock Co’s investment portfolio, making the stock its 22nd biggest position. PKO Investment Management Joint Stock Co’s holdings in Franco-Nevada were worth $8,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional purchased a new stake in shares of Franco-Nevada in the 1st quarter worth $30,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the first quarter valued at about $35,000. Physician Wealth Advisors Inc. purchased a new stake in Franco-Nevada in the fourth quarter worth about $49,000. Harbour Investments Inc. raised its stake in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after buying an additional 93 shares during the period. Finally, Versant Capital Management Inc purchased a new position in shares of Franco-Nevada during the 1st quarter valued at about $55,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Scotiabank upped their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. HC Wainwright restated a “buy” rating and set a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Royal Bank of Canada increased their price target on Franco-Nevada from $160.00 to $190.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 4th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $169.63.

Franco-Nevada Trading Up 0.0%

Shares of FNV stock opened at $171.78 on Tuesday. The stock has a market capitalization of $33.09 billion, a price-to-earnings ratio of -54.36, a price-to-earnings-growth ratio of 9.78 and a beta of 0.42. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $179.99. The stock’s 50-day moving average price is $167.13 and its 200-day moving average price is $146.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, June 12th. Franco-Nevada’s dividend payout ratio is presently 47.50%.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.