Franco Nevada Corp (NYSE:FNV) Stock Position Lowered by Exane Derivatives

Exane Derivatives lessened its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 69.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,634 shares of the basic materials company’s stock after selling 5,881 shares during the quarter. Exane Derivatives’ holdings in Franco Nevada were worth $240,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of FNV. Vanguard Group Inc. lifted its position in Franco Nevada by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,471,624 shares of the basic materials company’s stock worth $464,432,000 after buying an additional 113,313 shares in the last quarter. Renaissance Technologies LLC lifted its position in Franco Nevada by 20.4% in the 2nd quarter. Renaissance Technologies LLC now owns 3,675,031 shares of the basic materials company’s stock worth $311,948,000 after buying an additional 621,600 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its position in Franco Nevada by 0.4% in the 2nd quarter. Beutel Goodman & Co Ltd. now owns 2,974,852 shares of the basic materials company’s stock worth $252,487,000 after buying an additional 12,400 shares in the last quarter. TD Asset Management Inc. lifted its position in Franco Nevada by 1.4% in the 2nd quarter. TD Asset Management Inc. now owns 2,583,740 shares of the basic materials company’s stock worth $219,750,000 after buying an additional 35,747 shares in the last quarter. Finally, Swiss National Bank lifted its position in Franco Nevada by 0.4% in the 2nd quarter. Swiss National Bank now owns 1,472,300 shares of the basic materials company’s stock worth $124,954,000 after buying an additional 5,600 shares in the last quarter. Institutional investors and hedge funds own 63.96% of the company’s stock.

A number of research firms have issued reports on FNV. ValuEngine downgraded shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group increased their target price on shares of Franco Nevada from $84.00 to $95.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. GMP Securities downgraded shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. TD Securities increased their target price 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Franco Nevada from $110.00 to $117.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $98.65.

Shares of FNV opened at $91.68 on Thursday. The company’s fifty day moving average is $94.51 and its 200-day moving average is $84.41. Franco Nevada Corp has a 12 month low of $61.14 and a 12 month high of $101.19. The firm has a market cap of $17.42 billion, a price-to-earnings ratio of 76.01, a price-to-earnings-growth ratio of 14.69 and a beta of -0.03. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. Franco Nevada had a net margin of 22.42% and a return on equity of 4.83%. The company had revenue of $170.50 million for the quarter, compared to analyst estimates of $175.55 million. During the same quarter in the prior year, the business posted $0.29 EPS. Franco Nevada’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, research analysts predict that Franco Nevada Corp will post 1.58 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.439 per share. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.76 annualized dividend and a dividend yield of 1.92%. Franco Nevada’s dividend payout ratio is 85.47%.

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

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