Franco-Nevada Corporation (FNV) Shares Sold by Kingfisher Capital LLC
Kingfisher Capital LLC trimmed its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,193 shares of the basic materials company’s stock after selling 633 shares during the period. Franco-Nevada Corporation comprises about 1.9% of Kingfisher Capital LLC’s investment portfolio, making the stock its 9th biggest position. Kingfisher Capital LLC’s holdings in Franco-Nevada Corporation were worth $2,882,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in FNV. Advisory Services Network LLC lifted its position in shares of Franco-Nevada Corporation by 199.0% in the second quarter. Advisory Services Network LLC now owns 1,504 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 1,001 shares in the last quarter. Blair William & Co. IL purchased a new position in shares of Franco-Nevada Corporation in the second quarter valued at about $210,000. PNC Financial Services Group Inc. lifted its position in shares of Franco-Nevada Corporation by 40.3% in the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 1,039 shares in the last quarter. Wright Investors Service Inc. purchased a new position in shares of Franco-Nevada Corporation in the third quarter valued at about $245,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Franco-Nevada Corporation in the second quarter worth about $256,000. Institutional investors and hedge funds own 59.46% of the company’s stock.
Shares of Franco-Nevada Corporation (NYSE:FNV) traded down $0.50 during midday trading on Monday, reaching $83.98. The company’s stock had a trading volume of 433,200 shares, compared to its average volume of 629,881. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $85.03. The company has a market capitalization of $15,600.00, a PE ratio of 80.75, a P/E/G ratio of 19.84 and a beta of -0.14.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Franco-Nevada Corporation had a return on equity of 4.31% and a net margin of 22.12%. The company had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $167.07 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. research analysts expect that Franco-Nevada Corporation will post 1.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Shareholders of record on Thursday, December 7th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.92 annualized dividend and a yield of 1.10%. Franco-Nevada Corporation’s payout ratio is currently 113.58%.
FNV has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research report on Monday, July 24th. ValuEngine upgraded Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Scotiabank boosted their target price on Franco-Nevada Corporation from $79.50 to $82.00 and gave the stock a “sector perform” rating in a research report on Friday, September 8th. Credit Suisse Group set a $78.00 target price on Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, TD Securities set a $92.00 target price on Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Thursday, October 19th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $85.80.
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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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