Stifel Financial Corp decreased its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 39.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,979 shares of the basic materials company’s stock after selling 3,855 shares during the quarter. Stifel Financial Corp’s holdings in Franco Nevada were worth $417,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of FNV. JNBA Financial Advisors bought a new stake in Franco Nevada during the fourth quarter valued at $46,000. NumerixS Investment Technologies Inc bought a new stake in Franco Nevada during the fourth quarter valued at $49,000. Parallel Advisors LLC boosted its position in Franco Nevada by 57.7% during the fourth quarter. Parallel Advisors LLC now owns 793 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 290 shares during the last quarter. CWM LLC bought a new stake in Franco Nevada during the fourth quarter valued at $63,000. Finally, First Manhattan Co. boosted its position in Franco Nevada by 116.1% during the fourth quarter. First Manhattan Co. now owns 1,117 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 600 shares during the last quarter. 67.87% of the stock is currently owned by institutional investors.
A number of research firms have recently issued reports on FNV. Zacks Investment Research cut shares of Franco Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, January 15th. BMO Capital Markets reissued an “average” rating and set a $100.00 price objective on shares of Franco Nevada in a research report on Friday, April 5th. Raymond James reissued an “outperform” rating and set a $88.00 price objective on shares of Franco Nevada in a research report on Monday, February 11th. Finally, TheStreet cut shares of Franco Nevada from a “b” rating to a “c+” rating in a research report on Friday, April 5th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $89.86.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data 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 net margin of 21.28% and a return on equity of 4.62%. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $157.37 million. During the same quarter last year, the business posted $0.28 EPS. The company’s quarterly revenue was down 11.4% on a year-over-year basis. Equities analysts forecast that Franco Nevada Corp will post 1.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend was Wednesday, March 13th. Franco Nevada’s dividend payout ratio is currently 82.05%.
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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