Cortland Associates Inc. MO lessened its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 96.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,299 shares of the basic materials company's stock after selling 135,572 shares during the period. Cortland Associates Inc. MO's holdings in Franco-Nevada were worth $534,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Mechanics Financial Corp boosted its stake 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 valued at $30,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC acquired a new stake in Franco-Nevada during the second quarter worth approximately $36,000. Sunbelt Securities Inc. increased its holdings in Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock worth $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock valued at $52,000 after buying an additional 110 shares during the period. 77.06% of the stock is currently owned by institutional investors.
Franco-Nevada Stock Performance
FNV stock traded up $0.30 during midday trading on Monday, reaching $132.01. 366,154 shares of the company's stock traded hands, compared to its average volume of 650,135. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The firm has a market capitalization of $25.41 billion, a PE ratio of -43.45, a price-to-earnings-growth ratio of 22.19 and a beta of 0.75. The company has a 50-day moving average price of $126.03 and a two-hundred day moving average price of $123.87.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company's quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. As a group, analysts predict 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 was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.09%. Franco-Nevada's payout ratio is currently -47.37%.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on FNV shares. Scotiabank upped their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a "sector perform" rating in a report on Monday, August 19th. TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. HC Wainwright restated a "buy" rating and issued a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. Finally, Jefferies Financial Group decreased their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $154.57.
View Our Latest Research Report on Franco-Nevada
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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