US Bancorp DE lessened its holdings in shares of Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,407 shares of the basic materials company’s stock after selling 300 shares during the quarter. US Bancorp DE’s holdings in Franco-Nevada were worth $2,678,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Penserra Capital Management LLC bought a new position in shares of Franco-Nevada during the 1st quarter worth approximately $47,000. Optiver Holding B.V. bought a new position in Franco-Nevada during the second quarter worth $46,000. Prospera Financial Services Inc increased its holdings in shares of Franco-Nevada by 35.7% in the second quarter. Prospera Financial Services Inc now owns 361 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 95 shares during the last quarter. First Personal Financial Services bought a new position in shares of Franco-Nevada in the third quarter valued at about $49,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Franco-Nevada by 19.0% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 569 shares of the basic materials company’s stock worth $75,000 after buying an additional 91 shares during the last quarter. Institutional investors and hedge funds own 66.69% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. StockNews.com began coverage on shares of Franco-Nevada in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Barclays lowered their target price on Franco-Nevada from $112.00 to $111.00 and set an “underweight” rating on the stock in a research note on Monday, October 17th. Finally, National Bank Financial boosted their price target on Franco-Nevada from C$190.00 to C$200.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Hold” and a consensus price target of $168.63.
Franco-Nevada Price Performance
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last issued its quarterly earnings results on Monday, November 7th. The basic materials company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Franco-Nevada had a return on equity of 11.27% and a net margin of 57.18%. The company had revenue of $304.20 million for the quarter. On average, equities analysts expect that Franco-Nevada Co. will post 3.67 EPS for the current year.
Franco-Nevada Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, December 22nd. Stockholders of record on Thursday, December 8th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Wednesday, December 7th. Franco-Nevada’s dividend payout ratio (DPR) is presently 32.91%.
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
- Get a free copy of the StockNews.com research report on Franco-Nevada (FNV)
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