Bank of Nova Scotia Lowers Position in Franco-Nevada Corporation (FNV)

Bank of Nova Scotia trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 0.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 480,941 shares of the basic materials company’s stock after selling 3,809 shares during the period. Bank of Nova Scotia owned about 0.26% of Franco-Nevada Corporation worth $34,711,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FNV. Hexavest Inc. lifted its stake in Franco-Nevada Corporation by 50.7% in the 2nd quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 559 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Franco-Nevada Corporation during the first quarter worth approximately $222,000. Blair William & Co. IL acquired a new stake in Franco-Nevada Corporation during the second quarter worth approximately $210,000. PNC Financial Services Group Inc. lifted its position in Franco-Nevada Corporation by 40.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Franco-Nevada Corporation by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 60.24% of the company’s stock.

Several equities research analysts have issued reports on FNV shares. Credit Suisse Group set a $78.00 price objective on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Scotiabank raised their target price on shares of Franco-Nevada Corporation from $78.00 to $79.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. BidaskClub raised shares of Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. TD Securities raised their target price on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Franco-Nevada Corporation presently has an average rating of “Buy” and a consensus price target of $79.81.

Franco-Nevada Corporation (NYSE FNV) traded down 0.05% during midday trading on Friday, hitting $79.68. 95,351 shares of the stock traded hands. The stock has a market capitalization of $14.78 billion, a P/E ratio of 100.48 and a beta of -0.12. The stock’s 50-day moving average price is $80.33 and its 200-day moving average price is $74.34. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $85.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities research analysts expect that Franco-Nevada Corporation will post $1.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, September 13th. Franco-Nevada Corporation’s payout ratio is presently 119.48%.

WARNING: “Bank of Nova Scotia Lowers Position in Franco-Nevada Corporation (FNV)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If

Several other institutional investors have also bought and sold shares of FNV. Hexavest Inc. lifted its stake in Franco-Nevada Corporation by 50.7% in the 2nd quarter. Hexavest Inc. now owns 1,662 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 559 shares during the last quarter. Schroder Investment Management Group acquired a new stake in Franco-Nevada Corporation during the first quarter worth approximately $222,000. Blair William & Co. IL acquired a new stake in Franco-Nevada Corporation during the second quarter worth approximately $210,000. PNC Financial Services Group Inc. lifted its position in Franco-Nevada Corporation by 40.3% during the first quarter. PNC Financial Services Group Inc. now owns 3,617 shares of the basic materials company’s stock worth $236,000 after acquiring an additional 1,039 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in Franco-Nevada Corporation by 0.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,642 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 30 shares during the last quarter. Institutional investors own 60.24% of the company’s stock.

Several equities research analysts have issued reports on FNV shares. Credit Suisse Group set a $78.00 price objective on shares of Franco-Nevada Corporation and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Scotiabank raised their target price on shares of Franco-Nevada Corporation from $78.00 to $79.50 and gave the stock a “sector perform” rating in a report on Thursday, August 10th. BidaskClub raised shares of Franco-Nevada Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. TD Securities raised their target price on shares of Franco-Nevada Corporation from $83.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, August 10th. Finally, Zacks Investment Research raised shares of Franco-Nevada Corporation from a “hold” rating to a “buy” rating and set a $80.00 target price on the stock in a report on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Franco-Nevada Corporation presently has an average rating of “Buy” and a consensus price target of $79.81.

Franco-Nevada Corporation (NYSE FNV) traded down 0.05% during midday trading on Friday, hitting $79.68. 95,351 shares of the stock traded hands. The stock has a market capitalization of $14.78 billion, a P/E ratio of 100.48 and a beta of -0.12. The stock’s 50-day moving average price is $80.33 and its 200-day moving average price is $74.34. Franco-Nevada Corporation has a 52 week low of $53.31 and a 52 week high of $85.03.

Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.25 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.25. The firm had revenue of $163.60 million for the quarter, compared to analysts’ expectations of $164.62 million. Franco-Nevada Corporation had a net margin of 21.26% and a return on equity of 4.39%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Equities research analysts expect that Franco-Nevada Corporation will post $1.02 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, September 28th. Stockholders of record on Thursday, September 14th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Wednesday, September 13th. Franco-Nevada Corporation’s payout ratio is presently 119.48%.

WARNING: “Bank of Nova Scotia Lowers Position in Franco-Nevada Corporation (FNV)” was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this news story on another site, it was illegally copied and reposted in violation of United States & international copyright legislation. The correct version of this news story can be viewed at https://ledgergazette.com/2017/10/20/franco-nevada-corporation-fnv-holdings-cut-by-bank-of-nova-scotia.html.

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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