Charles Schwab Investment Management Inc. Boosts Stake in Franco-Nevada Co. (NYSE:FNV)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 5.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 407,137 shares of the basic materials company's stock after buying an additional 19,589 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.21% of Franco-Nevada worth $50,623,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Financial Corp raised its holdings in shares of 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 purchasing an additional 150 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada in the 2nd quarter valued at about $33,000. Kings Path Partners LLC acquired a new stake in Franco-Nevada during the second quarter worth about $36,000. Sunbelt Securities Inc. grew its holdings 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 worth $49,000 after acquiring an additional 400 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Franco-Nevada during the second quarter valued at approximately $68,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 0.3 %

Shares of NYSE FNV traded down $0.34 during midday trading on Friday, hitting $122.62. The stock had a trading volume of 165,847 shares, compared to its average volume of 796,471. 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 $23.60 billion, a PE ratio of -38.80, a P/E/G ratio of 20.72 and a beta of 0.75. The stock has a 50 day simple moving average of $125.77 and a 200-day simple moving average of $123.71.

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 for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analysts' expectations 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 revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given 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 dividend yield of 1.17%. Franco-Nevada's dividend payout ratio (DPR) is presently -45.57%.

Analysts Set New Price Targets

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