American Century Companies Inc. Raises Holdings in Franco-Nevada Corporation (FNV)
American Century Companies Inc. grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 49.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 442,680 shares of the basic materials company’s stock after purchasing an additional 146,586 shares during the period. American Century Companies Inc. owned about 0.24% of Franco-Nevada Corporation worth $34,296,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FNV. FMR LLC boosted its stake in shares of Franco-Nevada Corporation by 7.5% during the 2nd quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock worth $1,068,190,000 after acquiring an additional 1,028,578 shares in the last quarter. Troy Asset Management Ltd bought a new stake in Franco-Nevada Corporation during the 3rd quarter valued at approximately $61,714,000. Franklin Resources Inc. boosted its stake in Franco-Nevada Corporation by 30.0% during the 2nd quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock valued at $202,127,000 after purchasing an additional 646,929 shares during the period. CIBC Asset Management Inc boosted its stake in Franco-Nevada Corporation by 34.8% during the 2nd quarter. CIBC Asset Management Inc now owns 1,966,527 shares of the basic materials company’s stock valued at $141,730,000 after purchasing an additional 507,518 shares during the period. Finally, Barometer Capital Management Inc. lifted its position in shares of Franco-Nevada Corporation by 4,017.1% in the 2nd quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock worth $20,797,000 after acquiring an additional 281,200 shares during the period. Institutional investors own 59.46% of the company’s stock.
A number of analysts have commented on the company. Credit Suisse Group set a $78.00 price objective on Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Zacks Investment Research cut Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub raised Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Scotiabank raised their price target on Franco-Nevada Corporation from $79.50 to $82.00 and gave the company a “sector perform” rating in a report on Friday, September 8th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $100.00 price objective on shares of Franco-Nevada Corporation in a research report on Monday, October 23rd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $85.80.
Shares of Franco-Nevada Corporation (NYSE FNV) opened at $83.39 on Tuesday. Franco-Nevada Corporation has a 1-year low of $53.31 and a 1-year high of $85.03. The stock has a market capitalization of $15,597.41, a P/E ratio of 80.75, a PEG ratio of 19.84 and a beta of -0.14.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $167.07 million. Franco-Nevada Corporation had a return on equity of 4.31% and a net margin of 22.12%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. equities analysts forecast that Franco-Nevada Corporation will post 1.06 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, December 6th. This represents a $0.92 annualized dividend and a yield of 1.10%. Franco-Nevada Corporation’s dividend payout ratio is currently 116.46%.
About Franco-Nevada Corporation
Franco-Nevada Corporation (Franco-Nevada) is a gold-focused royalty and stream company. The Company has interests in silver, platinum group metals, oil and gas and other resource assets. The Company is engaged in resource sector royalty/stream acquisitions and management activities. It has a portfolio of properties in the United States, Canada, Mexico, Peru, Chile and Africa.
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