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Addenda Capital Inc. Sells 198,892 Shares of Franco-Nevada Co. (NYSE:FNV)

Franco-Nevada logo with Basic Materials background

Addenda Capital Inc. decreased its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 92.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,408 shares of the basic materials company's stock after selling 198,892 shares during the quarter. Addenda Capital Inc.'s holdings in Franco-Nevada were worth $1,929,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Graham Capital Wealth Management LLC raised its holdings in shares of Franco-Nevada by 0.4% during the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company's stock valued at $2,511,000 after purchasing an additional 86 shares during the last quarter. Huntington National Bank raised its stake in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock valued at $185,000 after buying an additional 102 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of Franco-Nevada by 1.1% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 11,961 shares of the basic materials company's stock valued at $1,486,000 after buying an additional 130 shares during the period. Blossom Wealth Management boosted its stake in shares of Franco-Nevada by 5.2% in the 3rd quarter. Blossom Wealth Management now owns 2,745 shares of the basic materials company's stock worth $341,000 after buying an additional 135 shares during the last quarter. Finally, Waverton Investment Management Ltd grew its holdings in shares of Franco-Nevada by 2.9% in the third quarter. Waverton Investment Management Ltd now owns 5,405 shares of the basic materials company's stock worth $671,000 after acquiring an additional 151 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded up $4.92 on Tuesday, hitting $130.70. 729,284 shares of the company traded hands, compared to its average volume of 639,799. The stock has a market capitalization of $25.16 billion, a P/E ratio of -41.36, a price-to-earnings-growth ratio of 6.84 and a beta of 0.72. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $137.60. The business has a 50-day simple moving average of $121.03 and a 200 day simple moving average of $123.87.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $279.11 million. During the same period last year, the company earned $0.91 earnings per share. The firm's revenue was down 10.9% on a year-over-year basis. Research analysts expect that Franco-Nevada Co. will post 3.18 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. Franco-Nevada's payout ratio is -45.57%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on FNV. Jefferies Financial Group dropped their target price on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, Scotiabank lowered their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $145.33.

View Our Latest Report on FNV

Franco-Nevada Company Profile

(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.

Further Reading

Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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