Cumberland Partners Ltd grew its holdings in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 15.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 9,500 shares of the basic materials company’s stock after buying an additional 1,300 shares during the quarter. Cumberland Partners Ltd’s holdings in Franco-Nevada were worth $1,316,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CWM LLC bought a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $25,000. Eagle Bay Advisors LLC purchased a new stake in Franco-Nevada in the fourth quarter worth approximately $42,000. FinTrust Capital Advisors LLC increased its holdings in Franco-Nevada by 107.0% during the third quarter. FinTrust Capital Advisors LLC now owns 327 shares of the basic materials company’s stock valued at $42,000 after buying an additional 169 shares during the last quarter. Huntington National Bank lifted its holdings in Franco-Nevada by 96.9% during the fourth quarter. Huntington National Bank now owns 384 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 189 shares in the last quarter. Finally, UMB Bank N A MO purchased a new position in Franco-Nevada during the fourth quarter valued at approximately $68,000. Institutional investors own 75.52% of the company’s stock.
A number of equities research analysts recently commented on the company. Raymond James set a $190.00 target price on Franco-Nevada and gave the stock an “outperform” rating in a research report on Friday, May 6th. Canaccord Genuity Group lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Stifel Nicolaus lifted their price target on Franco-Nevada from C$200.00 to C$205.00 in a research report on Friday, March 11th. Canaccord Genuity Group cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th. Finally, KeyCorp boosted their price objective on shares of Franco-Nevada from $150.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, April 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.70.
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last issued its earnings results on Wednesday, May 4th. The basic materials company reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $338.80 million for the quarter, compared to analyst estimates of $335.27 million. Franco-Nevada had a return on equity of 11.55% and a net margin of 55.96%. Franco-Nevada’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.84 earnings per share. On average, equities analysts forecast that Franco-Nevada Co. will post 3.73 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, June 16th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, June 15th. This represents a $1.28 annualized dividend and a dividend yield of 0.94%. Franco-Nevada’s dividend payout ratio (DPR) is 32.82%.
Franco-Nevada Profile (Get Rating)
Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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