Profund Advisors LLC increased its position in shares of Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 20.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,044 shares of the basic materials company’s stock after acquiring an additional 5,507 shares during the quarter. Profund Advisors LLC’s holdings in Franco Nevada were worth $3,413,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Pacifica Partners Inc. purchased a new position in Franco Nevada during the fourth quarter valued at approximately $46,000. Vigilant Capital Management LLC purchased a new position in Franco Nevada during the fourth quarter valued at approximately $52,000. Atlas Private Wealth Management purchased a new position in Franco Nevada during the fourth quarter valued at approximately $57,000. Parallel Advisors LLC grew its position in Franco Nevada by 12.1% during the fourth quarter. Parallel Advisors LLC now owns 973 shares of the basic materials company’s stock valued at $101,000 after purchasing an additional 105 shares in the last quarter. Finally, Aigen Investment Management LP purchased a new position in Franco Nevada during the fourth quarter valued at approximately $104,000. Institutional investors and hedge funds own 66.44% of the company’s stock.
Several analysts have commented on the stock. Canaccord Genuity reissued a “buy” rating and issued a $156.00 target price on shares of Franco Nevada in a research report on Tuesday, March 10th. Raymond James decreased their target price on shares of Franco Nevada from $130.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Zacks Investment Research downgraded shares of Franco Nevada from a “buy” rating to a “hold” rating and set a $109.00 target price for the company. in a research report on Friday, January 3rd. Royal Bank of Canada reissued a “hold” rating and issued a $110.00 target price on shares of Franco Nevada in a research report on Sunday, February 9th. Finally, Deutsche Bank boosted their target price on shares of Franco Nevada from $100.00 to $102.00 and gave the stock a “hold” rating in a research report on Thursday. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $114.91.
Shares of NYSE FNV traded down $0.87 during trading hours on Thursday, hitting $109.95. 1,381,410 shares of the stock were exchanged, compared to its average volume of 1,010,609. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.22 and a quick ratio of 5.22. The company’s 50 day moving average is $109.85 and its 200 day moving average is $101.41. The firm has a market capitalization of $21.05 billion, a P/E ratio of 60.08, a P/E/G ratio of 12.30 and a beta of 0.21. Franco Nevada Corp has a one year low of $69.16 and a one year high of $122.65.
Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 9th. The basic materials company reported $0.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.10. The business had revenue of $258.10 million during the quarter, compared to the consensus estimate of $237.03 million. Franco Nevada had a net margin of 40.76% and a return on equity of 7.01%. Franco Nevada’s quarterly revenue was up 74.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. Research analysts anticipate that Franco Nevada Corp will post 2.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.91%. The ex-dividend date is Wednesday, March 11th. Franco Nevada’s payout ratio is currently 54.95%.
About Franco Nevada
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.
See Also: What is basic economics?
Receive News & Ratings for Franco Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco Nevada and related companies with MarketBeat.com's FREE daily email newsletter.