BNP Paribas Financial Markets Sells 4,167 Shares of Franco-Nevada Co. (NYSE:FNV)

BNP Paribas Financial Markets cut its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,729 shares of the basic materials company's stock after selling 4,167 shares during the period. BNP Paribas Financial Markets' holdings in Franco-Nevada were worth $4,315,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. M&G PLC increased its stake in shares of Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company's stock worth $208,645,000 after purchasing an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock worth $86,287,000 after buying an additional 706,919 shares during the period. Horizon Kinetics Asset Management LLC increased its stake in Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock worth $116,277,000 after buying an additional 17,232 shares in the last quarter. Victory Capital Management Inc. increased its stake in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after buying an additional 424,810 shares in the last quarter. Finally, Telemark Asset Management LLC raised its holdings in Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company's stock valued at $6,212,000 after acquiring an additional 20,000 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded up $1.19 during trading on Thursday, hitting $123.53. The company had a trading volume of 708,294 shares, compared to its average volume of 666,807. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of -39.09 and a beta of 0.72. The company has a fifty day simple moving average of $125.30 and a two-hundred day simple moving average of $123.62. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm's quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.17%. Franco-Nevada's payout ratio is -45.57%.

Analyst Ratings Changes

Several research firms recently issued reports on FNV. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 price objective on the stock. StockNews.com upgraded shares of Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, TD Cowen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.83.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.