Commonwealth of Pennsylvania Public School Empls Retrmt SYS Has $801,000 Stake in Franco-Nevada Corporation (FNV)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,107 shares of the basic materials company’s stock after selling 400 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Franco-Nevada Corporation were worth $801,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the company. Cannell Peter B & Co. Inc. boosted its holdings in shares of Franco-Nevada Corporation by 8.1% in the second quarter. Cannell Peter B & Co. Inc. now owns 272,800 shares of the basic materials company’s stock valued at $19,685,000 after acquiring an additional 20,400 shares in the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in shares of Franco-Nevada Corporation in the second quarter valued at about $4,400,000. Sentry Investments Corp. purchased a new stake in shares of Franco-Nevada Corporation in the second quarter valued at about $6,803,000. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Franco-Nevada Corporation by 9.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 5,349 shares of the basic materials company’s stock valued at $386,000 after acquiring an additional 444 shares in the last quarter. Finally, Andra AP fonden boosted its holdings in shares of Franco-Nevada Corporation by 1.3% in the second quarter. Andra AP fonden now owns 196,000 shares of the basic materials company’s stock valued at $18,340,000 after acquiring an additional 2,558 shares in the last quarter. 60.28% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the stock. Credit Suisse Group set a $78.00 target price on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a report on Tuesday, July 18th. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Scotiabank boosted 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 report on Friday, September 8th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $64.00 price objective (down previously from $65.00) on shares of Franco-Nevada Corporation in a report on Sunday, June 25th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $80.65.
Shares of Franco-Nevada Corporation (FNV) opened at 81.95 on Friday. The stock has a market cap of $15.20 billion, a P/E ratio of 103.34 and a beta of -0.07. The firm has a 50 day moving average of $78.51 and a 200 day moving average of $71.56. Franco-Nevada Corporation has a one year low of $53.31 and a one year high of $85.03.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The company had revenue of $163.60 million during the quarter, compared to analyst estimates of $164.62 million. During the same quarter last year, the firm posted $0.22 EPS. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts predict that Franco-Nevada Corporation will post $1.00 EPS for the current fiscal year.
The firm 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. The ex-dividend date of this dividend is Wednesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.12%. Franco-Nevada Corporation’s dividend payout ratio (DPR) is 119.48%.
Franco-Nevada Corporation 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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