Franco-Nevada (FNV) Stake Decreased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in Franco-Nevada (NYSE:FNV) (TSE:FNV) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 716,765 shares of the basic materials company’s stock after selling 4,935 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.39% of Franco-Nevada worth $49,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Franco-Nevada by 41.0% in the fourth quarter. Renaissance Technologies LLC now owns 1,823,500 shares of the basic materials company’s stock valued at $145,828,000 after acquiring an additional 530,300 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Franco-Nevada by 66.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,766,334 shares of the basic materials company’s stock valued at $141,219,000 after acquiring an additional 704,843 shares during the period. Swiss National Bank raised its stake in shares of Franco-Nevada by 4.0% in the fourth quarter. Swiss National Bank now owns 1,692,600 shares of the basic materials company’s stock valued at $135,381,000 after acquiring an additional 64,900 shares during the period. Tocqueville Asset Management L.P. raised its stake in shares of Franco-Nevada by 5.3% in the fourth quarter. Tocqueville Asset Management L.P. now owns 1,503,223 shares of the basic materials company’s stock valued at $120,156,000 after acquiring an additional 75,225 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Franco-Nevada by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 697,737 shares of the basic materials company’s stock valued at $47,536,000 after acquiring an additional 3,674 shares during the period. 62.87% of the stock is currently owned by institutional investors and hedge funds.

NYSE FNV opened at $71.13 on Wednesday. The stock has a market capitalization of $13.53 billion, a PE ratio of 62.15, a P/E/G ratio of 15.02 and a beta of 0.05. Franco-Nevada has a 12 month low of $70.38 and a 12 month high of $71.62.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 9th. The basic materials company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.06. The firm had revenue of $173.10 million for the quarter, compared to analysts’ expectations of $169.26 million. Franco-Nevada had a net margin of 31.64% and a return on equity of 4.67%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $0.25 earnings per share. research analysts predict that Franco-Nevada will post 1.21 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, June 14th will be issued a $0.24 dividend. The ex-dividend date is Wednesday, June 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.23. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.35%. Franco-Nevada’s dividend payout ratio is presently 85.19%.

Several brokerages have recently weighed in on FNV. Clarkson Capital reissued a “neutral” rating on shares of Franco-Nevada in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Saturday, February 3rd. Raymond James reduced their target price on shares of Franco-Nevada from $93.00 to $91.00 and set an “outperform” rating on the stock in a research note on Friday, March 9th. Scotiabank set a $86.00 target price on shares of Franco-Nevada and gave the company a “hold” rating in a research note on Monday, January 22nd. Finally, Credit Suisse Group set a $80.00 target price on shares of Franco-Nevada and gave the company a “hold” rating in a research note on Friday, March 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Franco-Nevada currently has an average rating of “Hold” and a consensus target price of $88.00.

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.

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

Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply