Scotia Capital Inc. Buys 31,796 Shares of Franco-Nevada Co. (NYSE:FNV)

Scotia Capital Inc. grew its stake in Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) by 27.1% in the 4th quarter, Holdings Channel reports. The firm owned 149,153 shares of the basic materials company’s stock after purchasing an additional 31,796 shares during the period. Scotia Capital Inc.’s holdings in Franco-Nevada were worth $16,474,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gold Investment Management Ltd. purchased a new position in shares of Franco-Nevada during the fourth quarter valued at about $294,000. Mercer Investments LLC boosted its position in Franco-Nevada by 10.3% during the 4th quarter. Mercer Investments LLC now owns 76,880 shares of the basic materials company’s stock valued at $8,519,000 after acquiring an additional 7,200 shares in the last quarter. Bank of Nova Scotia Trust Co. grew its holdings in shares of Franco-Nevada by 4.9% during the 4th quarter. Bank of Nova Scotia Trust Co. now owns 62,359 shares of the basic materials company’s stock worth $6,910,000 after acquiring an additional 2,919 shares during the period. Claret Asset Management Corp bought a new position in shares of Franco-Nevada in the 4th quarter worth approximately $231,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Franco-Nevada in the 4th quarter valued at approximately $259,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded down $0.46 during trading on Friday, reaching $123.80. 666,832 shares of the stock traded hands, compared to its average volume of 500,856. The stock has a market cap of $23.81 billion, a P/E ratio of -49.72, a price-to-earnings-growth ratio of 28.01 and a beta of 0.71. The stock has a 50-day moving average of $122.13 and a two-hundred day moving average of $114.71. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $151.63.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business had revenue of $256.80 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the business posted $0.79 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. Sell-side analysts expect that Franco-Nevada Co. will post 3.18 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada’s payout ratio is -57.43%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on FNV shares. HC Wainwright upped their price target on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Scotiabank increased their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Raymond James boosted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Hold” and an average target price of $148.70.

View Our Latest Stock Report on FNV

Franco-Nevada Profile

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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

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