Franco Nevada Sees Unusually Large Options Volume (FNV)
Franco Nevada Corp (NYSE:FNV) (TSE:FNV) saw some unusual options trading activity on Thursday. Investors acquired 16,194 call options on the company. This represents an increase of approximately 4,837% compared to the average volume of 328 call options.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FNV. Bank of Montreal Can bought a new stake in shares of Franco Nevada in the 2nd quarter worth about $494,119,000. Fiera Capital Corp increased its position in shares of Franco Nevada by 217.2% in the 2nd quarter. Fiera Capital Corp now owns 3,682,984 shares of the basic materials company’s stock worth $268,834,000 after purchasing an additional 2,521,932 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Franco Nevada by 35.7% in the 1st quarter. Van ECK Associates Corp now owns 8,583,214 shares of the basic materials company’s stock worth $587,006,000 after purchasing an additional 2,259,834 shares during the last quarter. Toronto Dominion Bank increased its position in shares of Franco Nevada by 54.5% in the 1st quarter. Toronto Dominion Bank now owns 1,647,700 shares of the basic materials company’s stock worth $112,278,000 after purchasing an additional 581,131 shares during the last quarter. Finally, Addenda Capital Inc. bought a new stake in shares of Franco Nevada in the 2nd quarter worth about $29,528,000. 63.58% of the stock is owned by institutional investors.
A number of brokerages have weighed in on FNV. TD Securities set a $93.00 price target on shares of Franco Nevada and gave the company a “buy” rating in a report on Tuesday, August 7th. Macquarie lowered shares of Franco Nevada from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 10th. Finally, Desjardins upgraded shares of Franco Nevada from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $93.71.
Franco Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, August 8th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Franco Nevada had a net margin of 32.94% and a return on equity of 4.80%. The firm had revenue of $161.30 million for the quarter, compared to the consensus estimate of $169.46 million. During the same quarter in the previous year, the firm posted $0.25 EPS. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. analysts expect that Franco Nevada will post 1.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Thursday, September 13th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 1.46%. The ex-dividend date is Wednesday, September 12th. Franco Nevada’s dividend payout ratio (DPR) is 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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