Hexavest Inc. Decreases Holdings in Franco Nevada Corp (FNV)

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Hexavest Inc. trimmed its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 25.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,942 shares of the basic materials company’s stock after selling 2,081 shares during the period. Hexavest Inc.’s holdings in Franco Nevada were worth $372,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in shares of Franco Nevada by 128.6% during the first quarter. BNP Paribas Arbitrage SA now owns 1,600 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 900 shares during the period. Wells Fargo & Company MN increased its position in shares of Franco Nevada by 6.8% during the first quarter. Wells Fargo & Company MN now owns 14,654 shares of the basic materials company’s stock worth $1,002,000 after acquiring an additional 939 shares during the period. BlackRock Inc. increased its position in shares of Franco Nevada by 1.1% during the first quarter. BlackRock Inc. now owns 117,074 shares of the basic materials company’s stock worth $8,007,000 after acquiring an additional 1,282 shares during the period. Tuttle Tactical Management purchased a new stake in shares of Franco Nevada during the second quarter worth $111,000. Finally, Marathon Asset Management LLP increased its position in shares of Franco Nevada by 0.7% during the second quarter. Marathon Asset Management LLP now owns 280,783 shares of the basic materials company’s stock worth $20,483,000 after acquiring an additional 1,966 shares during the period. Institutional investors own 63.46% of the company’s stock.

A number of analysts have recently weighed in on FNV shares. Macquarie lowered Franco Nevada from an “outperform” rating to a “neutral” rating in a research report on Tuesday, July 10th. Desjardins raised Franco Nevada from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. TD Securities set a $93.00 price objective on Franco Nevada and gave the stock a “buy” rating in a research report on Tuesday, August 7th. ValuEngine lowered Franco Nevada from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Credit Suisse Group reaffirmed a “neutral” rating on shares of Franco Nevada in a research report on Monday, September 10th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $88.89.

NYSE:FNV opened at $66.06 on Friday. The firm has a market capitalization of $11.65 billion, a P/E ratio of 61.17, a price-to-earnings-growth ratio of 13.09 and a beta of -0.18. Franco Nevada Corp has a 12 month low of $58.26 and a 12 month high of $86.06.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, August 8th. The basic materials company reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $161.30 million for the quarter, compared to analyst estimates of $169.46 million. Franco Nevada had a return on equity of 4.80% and a net margin of 32.94%. Franco Nevada’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.25 earnings per share. As a group, equities analysts expect that Franco Nevada Corp will post 1.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Thursday, September 13th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.45%. The ex-dividend date was Wednesday, September 12th. Franco Nevada’s dividend payout ratio (DPR) is presently 88.89%.

Franco Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Mexico, Peru, Chile, Australia, and Africa. The company also holds interests in silver, platinum group metals, oil and gas, and other resource assets. As of December 31, 2017, it had a portfolio of 341 assets.

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

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