Public Sector Pension investment Board Acquires 67,300 Shares of Franco-Nevada Corporation (FNV)

Public Sector Pension investment Board grew its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 23.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 353,780 shares of the basic materials company’s stock after purchasing an additional 67,300 shares during the period. Public Sector Pension investment Board owned about 0.20% of Franco-Nevada Corporation worth $25,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Franco-Nevada Corporation by 78.4% in the second quarter. PNC Financial Services Group Inc. now owns 6,453 shares of the basic materials company’s stock valued at $466,000 after purchasing an additional 2,836 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its holdings in shares of Franco-Nevada Corporation by 0.8% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 46,050 shares of the basic materials company’s stock valued at $3,324,000 after purchasing an additional 350 shares during the last quarter. CWA Asset Management Group LLC raised its holdings in shares of Franco-Nevada Corporation by 7.2% in the second quarter. CWA Asset Management Group LLC now owns 89,863 shares of the basic materials company’s stock valued at $6,485,000 after purchasing an additional 6,064 shares during the last quarter. Fiera Capital Corp raised its holdings in shares of 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 during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Franco-Nevada Corporation by 22.1% in the second quarter. Alliancebernstein L.P. now owns 56,051 shares of the basic materials company’s stock valued at $4,045,000 after purchasing an additional 10,143 shares during the last quarter. Institutional investors own 60.24% of the company’s stock.

FNV has been the subject of several analyst reports. Scotiabank raised 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. Royal Bank Of Canada reissued an “outperform” rating on shares of Franco-Nevada Corporation in a research note on Thursday, September 7th. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. TD Securities raised their target price on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Thursday, August 10th. Finally, BidaskClub raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $80.65.

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Franco-Nevada Corporation (FNV) traded up 1.00% during trading on Wednesday, reaching $81.64. 143,557 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $79.22 and its 200-day moving average price is $72.05. The firm has a market cap of $15.14 billion, a price-to-earnings ratio of 102.95 and a beta of -0.07. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $85.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The business had revenue of $163.60 million during the quarter, compared to analyst estimates of $164.62 million. Franco-Nevada Corporation had a return on equity of 4.39% and a net margin of 21.26%. Franco-Nevada Corporation’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. On average, equities research analysts anticipate that Franco-Nevada Corporation will post $1.00 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th will be given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, September 13th. Franco-Nevada Corporation’s dividend payout ratio is presently 119.48%.

About Franco-Nevada Corporation

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.

Institutional Ownership by Quarter for Franco-Nevada Corporation (NYSE:FNV)

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