Franco Nevada Corp (FNV) Shares Sold by Meag Munich Ergo Kapitalanlagegesellschaft MBH

Meag Munich Ergo Kapitalanlagegesellschaft MBH cut its position in Franco Nevada Corp (NYSE:FNV) (TSE:FNV) by 3.0% during the first quarter, Holdings Channel reports. The fund owned 32,018 shares of the basic materials company’s stock after selling 982 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Franco Nevada Corp were worth $2,080,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Franco Nevada Corp by 17.4% in the fourth quarter. Van ECK Associates Corp now owns 10,107,441 shares of the basic materials company’s stock worth $604,021,000 after buying an additional 1,495,391 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Franco Nevada Corp by 1.7% in the first quarter. First Eagle Investment Management LLC now owns 7,180,484 shares of the basic materials company’s stock worth $469,713,000 after buying an additional 120,323 shares during the last quarter. Bank of Montreal Can boosted its position in Franco Nevada Corp by 15.7% in the first quarter. Bank of Montreal Can now owns 6,857,037 shares of the basic materials company’s stock worth $449,204,000 after buying an additional 931,206 shares during the last quarter. Norges Bank bought a new position in Franco Nevada Corp during the fourth quarter worth approximately $217,899,000. Finally, CIBC World Markets Inc. boosted its position in Franco Nevada Corp by 3.7% in the third quarter. CIBC World Markets Inc. now owns 2,596,552 shares of the basic materials company’s stock worth $181,421,000 after buying an additional 91,668 shares during the last quarter. Hedge funds and other institutional investors own 65.32% of the company’s stock.

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

Shares of Franco Nevada Corp (NYSE:FNV) traded up 0.90% on Friday, reaching $72.94. 819,795 shares of the company’s stock traded hands. The firm’s 50 day moving average is $68.51 and its 200 day moving average is $63.91. The firm has a market capitalization of $13.18 billion, a P/E ratio of 95.85 and a beta of 0.08. Franco Nevada Corp has a 52 week low of $53.31 and a 52 week high of $81.16.

Franco Nevada Corp (NYSE:FNV) last issued its quarterly earnings results on Tuesday, May 9th. The basic materials company reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.02. The company had revenue of $172.70 million for the quarter, compared to analyst estimates of $158.75 million. Franco Nevada Corp had a net margin of 16.54% and a return on equity of 3.71%. During the same period in the prior year, the firm earned $0.17 earnings per share. Analysts expect that Franco Nevada Corp will post $0.96 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This is an increase from Franco Nevada Corp’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. Franco Nevada Corp’s payout ratio is currently 169.23%.

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FNV has been the topic of a number of research analyst reports. Barclays PLC restated a “hold” rating and issued a $68.00 price target on shares of Franco Nevada Corp in a report on Wednesday, April 5th. Zacks Investment Research upgraded shares of Franco Nevada Corp from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 21st. Deutsche Bank AG cut their price target on shares of Franco Nevada Corp from $66.00 to $65.00 and set a “hold” rating on the stock in a report on Tuesday, March 21st. Clarkson Capital restated a “neutral” rating on shares of Franco Nevada Corp in a report on Friday, March 10th. Finally, TD Securities restated a “buy” rating on shares of Franco Nevada Corp in a report on Wednesday, May 10th. Nine equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $76.35.

Franco Nevada Corp 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.

5 Day Chart for NYSE:FNV

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco Nevada Corp (NYSE:FNV) (TSE:FNV).

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