Baird Financial Group Inc. raised its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 52.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,894 shares of the basic materials company’s stock after buying an additional 15,466 shares during the period. Baird Financial Group Inc.’s holdings in Franco Nevada Corp were worth $2,941,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Franco Nevada Corp during the fourth quarter worth $32,165,000. Capital World Investors boosted its stake in shares of Franco Nevada Corp by 0.3% in the third quarter. Capital World Investors now owns 286,910 shares of the basic materials company’s stock worth $20,045,000 after buying an additional 880 shares during the period. U S Global Investors Inc. boosted its stake in shares of Franco Nevada Corp by 59.0% in the third quarter. U S Global Investors Inc. now owns 15,900 shares of the basic materials company’s stock worth $1,105,000 after buying an additional 5,900 shares during the period. OLD Mission Capital LLC acquired a new stake in shares of Franco Nevada Corp during the third quarter worth $2,083,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Franco Nevada Corp during the third quarter worth $71,833,000. 65.32% of the stock is owned by hedge funds and other institutional investors.
Shares of Franco Nevada Corp (NYSE:FNV) traded down 0.69% during midday trading on Thursday, hitting $72.29. 899,842 shares of the stock were exchanged. Franco Nevada Corp has a 12-month low of $53.31 and a 12-month high of $81.16. The firm has a market cap of $13.06 billion, a P/E ratio of 94.99 and a beta of 0.08. The stock’s 50 day moving average is $68.29 and its 200 day moving average is $63.85.
Franco Nevada Corp (NYSE:FNV) last posted its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.02. The company had revenue of $172.70 million for the quarter, compared to analyst estimates of $158.75 million. Franco Nevada Corp had a net margin of 16.54% and a return on equity of 3.71%. During the same period last year, the business posted $0.17 EPS. On average, equities research analysts forecast that Franco Nevada Corp will post $0.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 15th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.27%. This is a positive change from Franco Nevada Corp’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, June 13th. Franco Nevada Corp’s dividend payout ratio (DPR) is currently 169.23%.
A number of analysts recently weighed in on the stock. Scotiabank upped their price target on shares of Franco Nevada Corp from $45.00 to $48.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 11th. TD Securities reaffirmed a “buy” rating on shares of Franco Nevada Corp in a research report on Wednesday, May 10th. Goldman Sachs Group Inc raised shares of Franco Nevada Corp from a “sell” rating to a “neutral” rating and set a $60.00 price target for the company in a research report on Wednesday, February 8th. Zacks Investment Research raised shares of Franco Nevada Corp from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 21st. Finally, Barclays PLC reaffirmed a “hold” rating and set a $68.00 price target on shares of Franco Nevada Corp in a research report on Wednesday, April 5th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $76.35.
Franco Nevada Corp Company Profile
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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