Tocqueville Asset Management L.P. reduced its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,540,298 shares of the basic materials company’s stock after selling 18,750 shares during the period. Franco-Nevada Corporation makes up approximately 1.3% of Tocqueville Asset Management L.P.’s investment portfolio, making the stock its 6th largest position. Tocqueville Asset Management L.P. owned about 0.85% of Franco-Nevada Corporation worth $111,143,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC raised its stake in Franco-Nevada Corporation by 0.8% in the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after buying an additional 30 shares in the last quarter. Capstone Asset Management Co. raised its stake in Franco-Nevada Corporation by 0.5% in the second quarter. Capstone Asset Management Co. now owns 23,100 shares of the basic materials company’s stock valued at $1,667,000 after buying an additional 120 shares during the period. Korea Investment CORP raised its stake in Franco-Nevada Corporation by 1.9% in the second quarter. Korea Investment CORP now owns 11,234 shares of the basic materials company’s stock valued at $809,000 after buying an additional 212 shares during the period. Chase Investment Counsel Corp raised its stake in Franco-Nevada Corporation by 7.5% in the second quarter. Chase Investment Counsel Corp now owns 4,365 shares of the basic materials company’s stock valued at $314,000 after buying an additional 305 shares during the period. Finally, Hexavest Inc. raised its stake in Franco-Nevada Corporation by 50.7% in the second quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after buying an additional 559 shares during the period. Institutional investors own 63.41% of the company’s stock.

Franco-Nevada Corporation (FNV) traded up 0.14% during mid-day trading on Monday, hitting $78.14. 65,545 shares of the stock traded hands. The company’s 50 day moving average is $73.46 and its 200 day moving average is $69.71. Franco-Nevada Corporation has a 12 month low of $53.31 and a 12 month high of $79.67. The company has a market cap of $14.49 billion, a P/E ratio of 98.54 and a beta of -0.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 8th. The basic materials company reported $0.25 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.25. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The firm had revenue of $163.60 million during the quarter, compared to analyst estimates of $164.62 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. Franco-Nevada Corporation’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, analysts expect that Franco-Nevada Corporation will post $0.99 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 14th will be given a dividend of $0.23 per share. The ex-dividend date is Wednesday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.18%. Franco-Nevada Corporation’s dividend payout ratio is 119.48%.

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Several research firms have commented on FNV. Scotiabank increased their price objective on shares of Franco-Nevada Corporation from $45.00 to $48.00 and gave the company a “sector perform” rating in a research note on Thursday, May 11th. BidaskClub downgraded shares of Franco-Nevada Corporation from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Barclays PLC reduced their target price on shares of Franco-Nevada Corporation from $74.00 to $72.00 and set an “equal weight” rating for the company in a research report on Thursday, July 13th. ValuEngine raised shares of Franco-Nevada Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG reissued a “hold” rating and set a $64.00 target price (down from $65.00) on shares of Franco-Nevada Corporation in a research report on Sunday, June 25th. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Franco-Nevada Corporation presently has a consensus rating of “Buy” and an average target price of $78.89.

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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