Bank of New York Mellon Corp decreased its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 10.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,840 shares of the basic materials company’s stock after selling 26,535 shares during the quarter. Bank of New York Mellon Corp owned about 0.12% of Franco-Nevada Corporation worth $16,008,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in FNV. Van ECK Associates Corp boosted its stake in Franco-Nevada Corporation by 6.6% during the 1st quarter. Van ECK Associates Corp now owns 10,773,637 shares of the basic materials company’s stock worth $705,781,000 after acquiring an additional 666,196 shares during the last quarter. 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 worth $141,730,000 after acquiring an additional 507,518 shares during the last quarter. Barometer Capital Management Inc. boosted its stake in Franco-Nevada Corporation by 4,017.1% during 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 last quarter. TD Asset Management Inc. boosted its stake in Franco-Nevada Corporation by 6.0% during the 2nd quarter. TD Asset Management Inc. now owns 3,432,041 shares of the basic materials company’s stock worth $247,287,000 after acquiring an additional 194,998 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Franco-Nevada Corporation by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 4,076,074 shares of the basic materials company’s stock worth $267,023,000 after acquiring an additional 189,705 shares during the last quarter. 60.24% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts recently weighed in on the stock. Scotiabank lifted their price objective on shares of Franco-Nevada Corporation from $79.50 to $82.00 and gave the stock a “sector perform” rating in a research note on Friday, September 8th. Royal Bank of Canada reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. TD Securities lifted their price objective on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $80.65.

Franco-Nevada Corporation (NYSE:FNV) opened at 80.83 on Wednesday. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $85.03. The company has a market cap of $14.99 billion, a price-to-earnings ratio of 101.93 and a beta of -0.07. The firm has a 50-day moving average of $79.22 and a 200-day moving average of $72.05.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The company had revenue of $163.60 million during the quarter, compared to the consensus estimate of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. Equities analysts forecast that Franco-Nevada Corporation will post $1.00 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio (DPR) is 119.48%.

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

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