Caisse DE Depot ET Placement DU Quebec Decreases Holdings in Franco-Nevada Co. (NYSE:FNV)

Caisse DE Depot ET Placement DU Quebec decreased its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 16.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 208,311 shares of the basic materials company's stock after selling 42,415 shares during the period. Caisse DE Depot ET Placement DU Quebec owned 0.11% of Franco-Nevada worth $25,902,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FNV. Mechanics Financial Corp boosted its stake in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new position in shares of Franco-Nevada during the 2nd quarter worth about $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in Franco-Nevada during the 2nd quarter worth approximately $68,000. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FNV. HC Wainwright raised their price objective on Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, November 8th. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Finally, TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $152.83.

Franco-Nevada Price Performance

Shares of FNV stock traded down $1.25 on Monday, hitting $121.37. The stock had a trading volume of 304,364 shares, compared to its average volume of 663,907. The business has a 50 day moving average of $125.77 and a 200 day moving average of $123.70. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $137.60. The stock has a market cap of $23.36 billion, a price-to-earnings ratio of -38.55, a price-to-earnings-growth ratio of 20.72 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data 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 firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the company posted $0.91 earnings per share. The company's revenue for the quarter was down 10.9% on a year-over-year basis. As a group, research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm 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 is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

Franco-Nevada 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.