Stifel Financial Corp boosted its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 38.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,369 shares of the basic materials company’s stock after purchasing an additional 3,137 shares during the quarter. Stifel Financial Corp’s holdings in Franco Nevada were worth $876,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Franco Nevada by 17.1% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,007 shares of the basic materials company’s stock worth $1,008,000 after buying an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Franco Nevada by 1.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 946,879 shares of the basic materials company’s stock worth $74,444,000 after purchasing an additional 14,357 shares in the last quarter. Legal & General Group Plc increased its holdings in Franco Nevada by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 857,837 shares of the basic materials company’s stock worth $66,300,000 after purchasing an additional 23,953 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Franco Nevada by 4.1% in the 3rd quarter. Great West Life Assurance Co. Can now owns 1,330,454 shares of the basic materials company’s stock worth $103,205,000 after purchasing an additional 52,358 shares in the last quarter. Finally, Gratus Capital LLC acquired a new position in Franco Nevada in the 3rd quarter worth about $201,000. Institutional investors and hedge funds own 61.42% of the company’s stock.
Shares of Franco Nevada Corp (NYSE:FNV) opened at $77.30 on Friday. The company has a market capitalization of $14,430.00, a P/E ratio of 95.43, a PEG ratio of 17.24 and a beta of -0.14. Franco Nevada Corp has a 52 week low of $60.10 and a 52 week high of $86.06.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Thursday, December 7th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Wednesday, December 6th. Franco Nevada’s payout ratio is 113.58%.
A number of equities research analysts have commented on FNV shares. Zacks Investment Research lowered Franco Nevada from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Credit Suisse Group lowered Franco Nevada from an “outperform” rating to a “neutral” rating and upped their target price for the company from $78.00 to $80.00 in a research report on Monday, September 25th. Canaccord Genuity restated a “buy” rating and set a $121.00 target price on shares of Franco Nevada in a research report on Tuesday, November 7th. Royal Bank of Canada restated a “buy” rating and set a $100.00 target price on shares of Franco Nevada in a research report on Monday, October 23rd. Finally, Scotiabank increased their price target on Franco Nevada from $82.50 to $85.00 and gave the stock a “sector perform” rating in a report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $85.10.
Franco Nevada 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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