Franco Nevada Corp (FNV) Holdings Reduced by Montrusco Bolton Investments Inc.
Montrusco Bolton Investments Inc. lowered its holdings in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 73.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,932 shares of the basic materials company’s stock after selling 29,740 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Franco Nevada were worth $877,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of FNV. Cambridge Investment Research Advisors Inc. boosted its stake in Franco Nevada by 9.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,349 shares of the basic materials company’s stock worth $386,000 after purchasing an additional 444 shares in the last quarter. Schroder Investment Management Group boosted its stake in Franco Nevada by 547.7% in the second quarter. Schroder Investment Management Group now owns 16,580 shares of the basic materials company’s stock worth $1,561,000 after purchasing an additional 14,020 shares in the last quarter. AXA boosted its stake in Franco Nevada by 5.0% in the second quarter. AXA now owns 38,280 shares of the basic materials company’s stock worth $2,762,000 after purchasing an additional 1,814 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Franco Nevada by 22.1% in the second quarter. Alliancebernstein L.P. now owns 56,051 shares of the basic materials company’s stock worth $4,045,000 after purchasing an additional 10,143 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Franco Nevada by 0.8% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 46,050 shares of the basic materials company’s stock valued at $3,324,000 after acquiring an additional 350 shares during the period. 61.42% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Franco Nevada from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Tuesday. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a research note on Monday, December 11th. TD Securities set a $96.00 price target on Franco Nevada and gave the company a “buy” rating in a research note on Friday, December 1st. Scotiabank upped their price target on Franco Nevada from $82.50 to $85.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $121.00 price target on shares of Franco Nevada in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Franco Nevada presently has a consensus rating of “Hold” and an average target price of $85.10.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 earnings per share. equities analysts expect that Franco Nevada Corp will post 1.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Thursday, December 7th were issued a $0.23 dividend. The ex-dividend date of this dividend was Wednesday, December 6th. This represents a $0.92 dividend on an annualized basis and a yield of 1.18%. Franco Nevada’s dividend payout ratio is presently 116.46%.
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Franco Nevada Company Profile
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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