Odey Asset Management Group Ltd Reduces Position in Franco-Nevada Corporation (FNV)
Odey Asset Management Group Ltd decreased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,755 shares of the basic materials company’s stock after selling 13,999 shares during the period. Franco-Nevada Corporation comprises about 2.5% of Odey Asset Management Group Ltd’s holdings, making the stock its 12th largest holding. Odey Asset Management Group Ltd owned about 0.17% of Franco-Nevada Corporation worth $22,929,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of FNV. Hexavest Inc. boosted its position in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares in the last quarter. Blair William & Co. IL acquired a new position in shares of Franco-Nevada Corporation during the second quarter worth $210,000. Schroder Investment Management Group acquired a new position in shares of Franco-Nevada Corporation during the first quarter worth $222,000. PNC Financial Services Group Inc. increased its holdings in shares of Franco-Nevada Corporation by 40.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock worth $236,000 after buying an additional 1,039 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Franco-Nevada Corporation by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 60.24% of the company’s stock.
Shares of Franco-Nevada Corporation (NYSE:FNV) traded down 0.30% during trading on Monday, hitting $77.25. The stock had a trading volume of 177,793 shares. 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 $14.33 billion, a PE ratio of 97.41 and a beta of -0.12. The firm has a 50-day moving average price of $79.22 and a 200 day moving average price of $72.05.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $163.60 million during the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. The business’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. Equities analysts anticipate that Franco-Nevada Corporation will post $1.00 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were paid a dividend of $0.23 per share. The ex-dividend date was Wednesday, September 13th. This represents a $0.92 annualized dividend and a dividend yield of 1.19%. Franco-Nevada Corporation’s dividend payout ratio (DPR) is presently 119.48%.
A number of brokerages have recently commented on FNV. Credit Suisse Group cut Franco-Nevada Corporation from an “outperform” rating to a “neutral” rating and increased their price target for the company from $78.00 to $80.00 in a research note on Monday, September 25th. Scotiabank raised their price objective on Franco-Nevada Corporation from $79.50 to $82.00 and gave the company a “sector perform” rating in a report on Friday, September 8th. Royal Bank Of Canada restated an “outperform” rating on shares of Franco-Nevada Corporation in a research report on Thursday, September 7th. ValuEngine upgraded Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, TD Securities upped their target price on Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Franco-Nevada Corporation presently has an average rating of “Buy” and a consensus price target of $80.83.
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Franco-Nevada Corporation Company 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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