Gulf International Bank UK Ltd Sells 440 Shares of Franco Nevada Corp (NYSE:FNV)

Gulf International Bank UK Ltd cut its stake in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 13.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,773 shares of the basic materials company’s stock after selling 440 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Franco Nevada were worth $252,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Advisory Services Network LLC grew its position in shares of Franco Nevada by 20.6% in the 1st quarter. Advisory Services Network LLC now owns 879 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 150 shares during the period. Confluence Investment Management LLC grew its position in shares of Franco Nevada by 4.5% in the 2nd quarter. Confluence Investment Management LLC now owns 3,538 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 151 shares during the period. Signaturefd LLC grew its position in shares of Franco Nevada by 13.7% in the 2nd quarter. Signaturefd LLC now owns 1,601 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 193 shares during the period. Riverhead Capital Management LLC grew its position in shares of Franco Nevada by 24.2% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,025 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 200 shares during the period. Finally, Tyers Asset Management LLC grew its position in shares of Franco Nevada by 17.6% in the 2nd quarter. Tyers Asset Management LLC now owns 1,392 shares of the basic materials company’s stock valued at $114,000 after purchasing an additional 208 shares during the period. 63.83% of the stock is owned by institutional investors.

NYSE:FNV opened at $92.58 on Friday. Franco Nevada Corp has a twelve month low of $61.14 and a twelve month high of $101.19. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.06. The business has a 50 day moving average price of $94.88 and a two-hundred day moving average price of $84.01. The company has a market cap of $17.94 billion, a P/E ratio of 78.30, a price-to-earnings-growth ratio of 15.13 and a beta of -0.03.

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

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.439 per share. The ex-dividend date of this dividend was Wednesday, September 11th. This represents a $1.76 dividend on an annualized basis and a yield of 1.90%. This is an increase from Franco Nevada’s previous quarterly dividend of $0.25. Franco Nevada’s dividend payout ratio is 85.47%.

Several equities analysts recently issued reports on the company. Canaccord Genuity reiterated a “buy” rating on shares of Franco Nevada in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price objective on Franco Nevada from $110.00 to $117.00 and gave the company a “neutral” rating in a research report on Wednesday, August 14th. Barclays set a $89.00 price objective on Franco Nevada and gave the company a “hold” rating in a research report on Friday, July 19th. TheStreet upgraded Franco Nevada from a “c+” rating to a “b-” rating in a research report on Tuesday, June 18th. Finally, Raymond James upped their price target on Franco Nevada from $98.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada presently has an average rating of “Hold” and a consensus price target of $98.65.

About Franco Nevada

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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