Connor Clark & Lunn Investment Management Ltd. Sells 14,700 Shares of Franco-Nevada Co. (NYSE:FNV)

Connor Clark & Lunn Investment Management Ltd. cut its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 678,916 shares of the basic materials company's stock after selling 14,700 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of Franco-Nevada worth $84,314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company's stock worth $1,456,208,000 after purchasing an additional 64,429 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company's stock valued at $1,022,452,000 after buying an additional 151,566 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Franco-Nevada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company's stock valued at $878,696,000 after buying an additional 129,876 shares in the last quarter. Capital World Investors increased its holdings in Franco-Nevada by 2.7% in the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company's stock valued at $547,807,000 after purchasing an additional 120,367 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after acquiring an additional 424,810 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

FNV stock traded up $0.19 during midday trading on Wednesday, reaching $121.45. The company had a trading volume of 361,632 shares, compared to its average volume of 662,756. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $137.60. The company has a market capitalization of $23.38 billion, a P/E ratio of -38.25, a P/E/G ratio of 19.22 and a beta of 0.75. The firm has a 50-day moving average price of $126.17 and a 200-day moving average price of $123.93.

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 for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analysts' expectations of $279.11 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company's revenue for the quarter was down 10.9% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders 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 1.19%. Franco-Nevada's dividend payout ratio (DPR) is -45.57%.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent research reports. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. HC Wainwright raised their price target on Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $157.00.

About Franco-Nevada

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.