Guardian Capital LP Has $56.78 Million Position in Franco Nevada Corp (FNV)
Guardian Capital LP cut its stake in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 734,850 shares of the basic materials company’s stock after selling 2,631 shares during the period. Guardian Capital LP owned approximately 0.40% of Franco Nevada worth $56,776,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in shares of Franco Nevada during the third quarter worth $2,065,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Franco Nevada by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 27,900 shares of the basic materials company’s stock worth $1,550,000 after purchasing an additional 800 shares during the period. Vanguard Group Inc. grew its stake in shares of Franco Nevada by 3.6% during the second quarter. Vanguard Group Inc. now owns 4,221,772 shares of the basic materials company’s stock worth $304,643,000 after purchasing an additional 145,698 shares during the period. Sentry Investments Corp. acquired a new stake in shares of Franco Nevada during the second quarter worth $6,803,000. Finally, CIBC Asset Management Inc grew its stake in shares of Franco Nevada by 6.1% during the third quarter. CIBC Asset Management Inc now owns 2,087,452 shares of the basic materials company’s stock worth $161,281,000 after purchasing an additional 120,925 shares during the period. 61.48% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on FNV. Desjardins reaffirmed a “sell” rating on shares of Franco Nevada in a research note on Monday. Royal Bank of Canada reaffirmed a “buy” rating and set a $100.00 price objective on shares of Franco Nevada in a research note on Monday, October 23rd. ValuEngine raised Franco Nevada from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. TD Securities set a $96.00 price objective on Franco Nevada and gave the stock a “buy” rating in a research note on Friday, December 1st. Finally, Credit Suisse Group cut Franco Nevada from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $78.00 to $80.00 in a research note on Monday, September 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.70.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. Franco Nevada had a return on equity of 4.31% and a net margin of 22.12%. The firm had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $167.07 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was down .3% on a year-over-year basis. equities analysts predict that Franco Nevada Corp will post 1.06 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 6th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.20%. Franco Nevada’s dividend payout ratio (DPR) is 116.46%.
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Franco Nevada 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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