State of Tennessee Treasury Department lifted its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 148,475 shares of the basic materials company’s stock after buying an additional 3,418 shares during the period. State of Tennessee Treasury Department owned approximately 0.08% of Franco Nevada worth $14,776,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in Franco Nevada by 6.5% in the fourth quarter. Van ECK Associates Corp now owns 8,282,786 shares of the basic materials company’s stock valued at $855,611,000 after purchasing an additional 505,936 shares in the last quarter. Capital World Investors grew its stake in Franco Nevada by 78.1% in the first quarter. Capital World Investors now owns 6,981,096 shares of the basic materials company’s stock valued at $697,514,000 after purchasing an additional 3,060,969 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Franco Nevada by 23.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 5,662,449 shares of the basic materials company’s stock valued at $563,527,000 after purchasing an additional 1,082,428 shares in the last quarter. Renaissance Technologies LLC grew its stake in Franco Nevada by 5.3% in the fourth quarter. Renaissance Technologies LLC now owns 4,639,636 shares of the basic materials company’s stock valued at $479,275,000 after purchasing an additional 232,005 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Franco Nevada by 100.2% in the first quarter. The Manufacturers Life Insurance Company now owns 2,583,320 shares of the basic materials company’s stock valued at $255,201,000 after purchasing an additional 1,293,102 shares in the last quarter. 67.52% of the stock is currently owned by institutional investors.

FNV has been the subject of a number of analyst reports. Deutsche Bank boosted their price target on Franco Nevada from $127.00 to $132.00 and gave the stock a “hold” rating in a research report on Wednesday, June 17th. Raymond James boosted their price target on Franco Nevada from $132.00 to $143.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Franco Nevada in a research report on Thursday, April 30th. Barclays cut Franco Nevada from an “equal weight” rating to an “underweight” rating and set a $91.00 price objective for the company. in a research report on Thursday, April 16th. Finally, Zacks Investment Research raised Franco Nevada from a “hold” rating to a “buy” rating and set a $159.00 price objective for the company in a research report on Monday, May 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $147.33.

Shares of FNV stock traded down $1.78 on Friday, reaching $134.76. 6,064 shares of the stock were exchanged, compared to its average volume of 992,184. The stock has a 50 day moving average price of $138.57 and a 200 day moving average price of $117.20. The stock has a market cap of $25.57 billion, a PE ratio of 140.48, a P/E/G ratio of 15.48 and a beta of 0.60. Franco Nevada Corp has a one year low of $77.18 and a one year high of $152.70.

Franco Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, May 6th. The basic materials company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.03. The firm had revenue of $240.50 million during the quarter, compared to analysts’ expectations of $237.92 million. Franco Nevada had a return on equity of 7.85% and a net margin of 19.91%. The company’s revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. As a group, analysts anticipate that Franco Nevada Corp will post 2.17 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.77%. This is a positive change from Franco Nevada’s previous quarterly dividend of $0.25. Franco Nevada’s dividend payout ratio (DPR) is 57.14%.

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

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