Royce & Associates LP Sells 8,571 Shares of Franco-Nevada Co. (NYSE:FNV)

Royce & Associates LP cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 34.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,500 shares of the basic materials company's stock after selling 8,571 shares during the period. Royce & Associates LP's holdings in Franco-Nevada were worth $2,050,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FNV. Mechanics Financial Corp lifted its stake 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 purchasing an additional 150 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the second quarter valued at approximately $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the second quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its holdings in shares of 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 acquiring an additional 400 shares during the period. Finally, Ridgewood Investments LLC acquired a new stake in shares of Franco-Nevada during the second quarter valued at approximately $68,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 0.1 %

FNV stock traded up $0.17 during trading hours on Wednesday, hitting $121.43. The company's stock had a trading volume of 135,019 shares, compared to its average volume of 661,749. The company has a market capitalization of $23.37 billion, a PE ratio of -38.25, a price-to-earnings-growth ratio of 19.22 and a beta of 0.75. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $137.60. The stock has a 50 day moving average price of $126.17 and a two-hundred day moving average price of $123.93.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business's revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. Sell-side analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada's dividend payout ratio is currently -45.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday. They set a "buy" rating and a $160.00 price target on the stock. Scotiabank cut their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Bank of America lowered shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.00.

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.