Quadrature Capital Ltd Sells 217,472 Shares of Franco-Nevada Co. (NYSE:FNV)

Quadrature Capital Ltd lowered its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 39.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 333,203 shares of the basic materials company's stock after selling 217,472 shares during the quarter. Franco-Nevada makes up about 0.9% of Quadrature Capital Ltd's investment portfolio, making the stock its 26th largest holding. Quadrature Capital Ltd owned approximately 0.17% of Franco-Nevada worth $41,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mechanics Financial Corp raised its position in shares of Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $33,000. Kings Path Partners LLC bought a new position in shares of Franco-Nevada in the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. raised its position 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 worth $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

FNV has been the subject of a number of analyst reports. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. TD Securities raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Bank of America lowered Franco-Nevada from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $152.83.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded up $1.45 during trading on Thursday, hitting $123.43. The company's stock had a trading volume of 386,075 shares, compared to its average volume of 665,326. The company has a 50-day moving average of $125.41 and a 200-day moving average of $123.62. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm's revenue was down 10.9% on a year-over-year basis. Equities research analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a dividend of $0.36 per share. The ex-dividend date 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%.

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.