Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 23.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 351,047 shares of the basic materials company’s stock after selling 110,500 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned about 0.19% of Franco Nevada worth $33,606,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. JNBA Financial Advisors acquired a new stake in shares of Franco Nevada during the fourth quarter valued at about $46,000. NumerixS Investment Technologies Inc acquired a new position in Franco Nevada in the fourth quarter worth about $49,000. Parallel Advisors LLC grew its stake in Franco Nevada by 57.7% in the fourth quarter. Parallel Advisors LLC now owns 793 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 290 shares in the last quarter. CWM LLC acquired a new position in Franco Nevada in the fourth quarter worth about $63,000. Finally, First Manhattan Co. grew its stake in Franco Nevada by 116.1% in the fourth quarter. First Manhattan Co. now owns 1,117 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 600 shares in the last quarter. 67.89% of the stock is currently owned by institutional investors and hedge funds.
FNV opened at $74.33 on Wednesday. The company has a market cap of $13.91 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 15.51 and a beta of 0.13. The company has a current ratio of 7.14, a quick ratio of 7.14 and a debt-to-equity ratio of 0.04. Franco Nevada Corp has a twelve month low of $58.26 and a twelve month high of $78.82.
Franco Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, March 19th. The basic materials company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.02). Franco Nevada had a return on equity of 4.62% and a net margin of 21.28%. The firm had revenue of $148.20 million for the quarter, compared to the consensus estimate of $157.37 million. During the same period in the previous year, the firm earned $0.28 EPS. Franco Nevada’s revenue for the quarter was down 11.4% on a year-over-year basis. As a group, analysts anticipate that Franco Nevada Corp will post 1.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.96 annualized dividend and a yield of 1.29%. Franco Nevada’s payout ratio is 82.05%.
A number of equities analysts recently commented on the company. TD Securities decreased their price target on Franco Nevada from $93.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. Raymond James restated an “outperform” rating and issued a $88.00 target price on shares of Franco Nevada in a research note on Thursday, March 21st. Zacks Investment Research restated a “hold” rating on shares of Franco Nevada in a research note on Monday, December 31st. Finally, BMO Capital Markets restated a “hold” rating on shares of Franco Nevada in a research note on Monday, December 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $87.50.
Franco Nevada Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.
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