Franco-Nevada Co. (NYSE:FNV) Position Trimmed by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) by 3.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 528,065 shares of the basic materials company’s stock after selling 19,017 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.27% of Franco-Nevada worth $62,960,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Scotia Capital Inc. lifted its holdings in Franco-Nevada by 27.1% in the fourth quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock worth $16,474,000 after acquiring an additional 31,796 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Franco-Nevada by 108.1% in the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares during the last quarter. Alberta Investment Management Corp boosted its position in Franco-Nevada by 2.3% during the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock valued at $49,825,000 after purchasing an additional 10,250 shares during the period. Bornite Capital Management LP bought a new position in Franco-Nevada during the 4th quarter worth $8,167,000. Finally, Mackenzie Financial Corp increased its position in Franco-Nevada by 15.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after buying an additional 198,144 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. HC Wainwright upped their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Jefferies Financial Group lifted their price target on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Scotiabank increased their price objective on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Finally, Raymond James raised their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Hold” and a consensus price target of $149.30.

Read Our Latest Stock Report on FNV

Franco-Nevada Stock Up 0.9 %

Shares of Franco-Nevada stock opened at $123.78 on Friday. The business has a fifty day simple moving average of $121.93 and a 200-day simple moving average of $115.71. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $149.06. The firm has a market cap of $23.81 billion, a price-to-earnings ratio of -49.71, a price-to-earnings-growth ratio of 23.06 and a beta of 0.74.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last issued its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The company had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. During the same period in the prior year, the company earned $0.79 EPS. Franco-Nevada’s revenue was down 7.1% on a year-over-year basis. Analysts anticipate that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

About Franco-Nevada

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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

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