Nordea Investment Management AB raised its holdings in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 37.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,874 shares of the basic materials company’s stock after acquiring an additional 4,064 shares during the quarter. Nordea Investment Management AB’s holdings in Franco Nevada were worth $1,490,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Franco Nevada by 6.9% in the fourth quarter. FMR LLC now owns 12,108,236 shares of the basic materials company’s stock worth $849,049,000 after purchasing an additional 781,761 shares during the period. Beutel Goodman & Co Ltd. increased its position in shares of Franco Nevada by 2.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 2,962,452 shares of the basic materials company’s stock worth $222,102,000 after purchasing an additional 69,615 shares during the period. Norges Bank bought a new position in shares of Franco Nevada in the fourth quarter worth $195,542,000. TD Asset Management Inc. increased its position in shares of Franco Nevada by 2.8% in the first quarter. TD Asset Management Inc. now owns 2,547,993 shares of the basic materials company’s stock worth $191,092,000 after purchasing an additional 70,045 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Franco Nevada by 17.4% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,537,151 shares of the basic materials company’s stock worth $107,740,000 after purchasing an additional 227,526 shares during the period. 65.07% of the stock is owned by institutional investors.
Shares of FNV stock traded up $0.64 during mid-day trading on Friday, reaching $90.22. 728,343 shares of the stock traded hands, compared to its average volume of 521,303. The business has a fifty day moving average price of $82.12. Franco Nevada Corp has a 1-year low of $58.26 and a 1-year high of $90.70. The stock has a market capitalization of $16.77 billion, a P/E ratio of 77.11, a price-to-earnings-growth ratio of 16.43 and a beta of 0.07. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.14 and a current ratio of 4.14.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a $0.25 dividend. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend was Wednesday, June 12th. Franco Nevada’s payout ratio is currently 85.47%.
FNV has been the topic of a number of recent analyst reports. ValuEngine upgraded Zumiez from a “sell” rating to a “hold” rating in a research report on Saturday, June 22nd. TD Securities decreased their price target on Total Energy Services from C$11.50 to C$10.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Barclays set a $192.00 target price on Tesla and gave the company a “sell” rating in a research report on Tuesday, April 9th. Royal Bank of Canada decreased their target price on Analog Devices from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Finally, TheStreet upgraded Sensient Technologies from a “c+” rating to a “b-” rating in a research report on Tuesday, June 18th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Franco Nevada presently has a consensus rating of “Hold” and an average target price of $90.07.
Franco Nevada Company Profile
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Canada, Latin America, Australia, and Africa. It also holds interests in silver and platinum group metals; and oil, gas, and natural gas liquids. The company was incorporated in 2007 and is headquartered in Toronto, Canada.
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