CWA Asset Management Group LLC bought a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 159,963 shares of the basic materials company's stock, valued at approximately $19,875,000. Franco-Nevada comprises approximately 1.1% of CWA Asset Management Group LLC's investment portfolio, making the stock its 19th biggest position. CWA Asset Management Group LLC owned 0.08% of Franco-Nevada as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FNV. Mechanics Financial Corp lifted its position in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the second quarter worth about $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter valued at $36,000. Sunbelt Securities Inc. raised its holdings in shares of 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 acquiring an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. grew its stake in Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock worth $52,000 after buying an additional 110 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently commented on FNV shares. Scotiabank decreased their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a report on Thursday, October 17th. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a "sell" rating to a "hold" rating in a research note on Thursday, August 22nd. Finally, TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $156.57.
Check Out Our Latest Analysis on Franco-Nevada
Franco-Nevada Price Performance
NYSE FNV traded down $3.97 during trading hours on Friday, reaching $122.44. The company's stock had a trading volume of 877,398 shares, compared to its average volume of 630,356. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.60. The company's 50-day moving average is $126.66 and its two-hundred day moving average is $124.17. The firm has a market capitalization of $23.57 billion, a price-to-earnings ratio of -38.75, a P/E/G ratio of 22.11 and a beta of 0.75.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. The company's quarterly revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. Equities analysts forecast that Franco-Nevada Co. will post 3.25 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
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 paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada's dividend payout ratio is currently -45.57%.
About Franco-Nevada
(
Free Report)
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.
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