Franco-Nevada Co. (NYSE:FNV) Shares Bought by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC boosted its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 935,834 shares of the basic materials company's stock after purchasing an additional 17,232 shares during the quarter. Franco-Nevada makes up 1.7% of Horizon Kinetics Asset Management LLC's portfolio, making the stock its 7th biggest holding. Horizon Kinetics Asset Management LLC owned approximately 0.49% of Franco-Nevada worth $116,277,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Mechanics Financial Corp grew its position in Franco-Nevada by 150.0% during the second 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 during the period. Mather Group LLC. acquired a new stake in Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada in the second quarter valued at approximately $36,000. Sunbelt Securities Inc. lifted its position in Franco-Nevada by 3,333.3% during the second 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 purchased a new stake in Franco-Nevada during the second quarter worth approximately $68,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. HC Wainwright raised their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. TD Cowen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. UBS Group assumed coverage on Franco-Nevada in a research report on Monday, November 18th. They set a "buy" rating and a $160.00 price target on the stock. Finally, Bank of America downgraded shares of Franco-Nevada from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.86.

Franco-Nevada Stock Down 2.5 %

Shares of FNV traded down $3.12 during midday trading on Monday, hitting $120.57. The company had a trading volume of 745,737 shares, compared to its average volume of 666,383. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The company's 50 day moving average price is $126.01 and its 200 day moving average price is $123.81. The stock has a market cap of $23.21 billion, a price-to-earnings ratio of -38.15, a PEG ratio of 20.87 and a beta of 0.75.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced 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 for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company's quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 EPS. Equities analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, December 5th. Franco-Nevada's dividend payout ratio is presently -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.