CIBC Asset Management Inc Has $161.28 Million Position in Franco-Nevada Corporation (FNV)
CIBC Asset Management Inc boosted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,087,452 shares of the basic materials company’s stock after buying an additional 120,925 shares during the period. Franco-Nevada Corporation makes up about 1.0% of CIBC Asset Management Inc’s investment portfolio, making the stock its 27th biggest position. CIBC Asset Management Inc owned approximately 1.13% of Franco-Nevada Corporation worth $161,281,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. FMR LLC increased its stake in Franco-Nevada Corporation by 7.5% in the second quarter. FMR LLC now owns 14,804,189 shares of the basic materials company’s stock valued at $1,068,190,000 after purchasing an additional 1,028,578 shares in the last quarter. Troy Asset Management Ltd bought a new stake in Franco-Nevada Corporation in the third quarter valued at approximately $61,714,000. Franklin Resources Inc. increased its stake in Franco-Nevada Corporation by 30.0% in the second quarter. Franklin Resources Inc. now owns 2,800,453 shares of the basic materials company’s stock valued at $202,127,000 after purchasing an additional 646,929 shares in the last quarter. Barometer Capital Management Inc. increased its stake in Franco-Nevada Corporation by 4,017.1% in the second quarter. Barometer Capital Management Inc. now owns 288,200 shares of the basic materials company’s stock valued at $20,797,000 after purchasing an additional 281,200 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in Franco-Nevada Corporation by 33.5% in the second quarter. Fiera Capital Corp now owns 1,104,916 shares of the basic materials company’s stock valued at $79,584,000 after purchasing an additional 277,080 shares in the last quarter. Institutional investors and hedge funds own 59.46% of the company’s stock.
Several equities research analysts have commented on FNV shares. Credit Suisse Group set a $78.00 target price on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a research note on Tuesday, July 18th. Scotiabank upped their target price on shares of Franco-Nevada Corporation from $79.50 to $82.00 and gave the company a “sector perform” rating in a research note on Friday, September 8th. TD Securities set a $92.00 target price on shares of Franco-Nevada Corporation and gave the company a “buy” rating in a research note on Thursday, October 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $121.00 target price on shares of Franco-Nevada Corporation in a research note on Tuesday, November 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Franco-Nevada Corporation currently has an average rating of “Hold” and an average price target of $85.80.
Shares of Franco-Nevada Corporation (FNV) traded down $0.50 during mid-day trading on Monday, hitting $83.98. 433,200 shares of the stock traded hands, compared to its average volume of 629,881. 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 $15,600.00, a P/E ratio of 80.75, a price-to-earnings-growth ratio of 19.84 and a beta of -0.14.
Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.03. Franco-Nevada Corporation had a net margin of 22.12% and a return on equity of 4.31%. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $167.07 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. equities research analysts predict that Franco-Nevada Corporation will post 1.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders of record on Thursday, December 7th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Wednesday, December 6th. Franco-Nevada Corporation’s dividend payout ratio is 113.58%.
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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