Telemark Asset Management LLC Purchases 20,000 Shares of Franco-Nevada Co. (NYSE:FNV)

Telemark Asset Management LLC boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 66.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the basic materials company's stock after buying an additional 20,000 shares during the quarter. Telemark Asset Management LLC's holdings in Franco-Nevada were worth $6,212,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Mechanics Financial Corp grew its stake in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock valued at $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the second quarter worth $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada during the 2nd quarter valued at $36,000. Sunbelt Securities Inc. lifted its stake in shares of Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Franco-Nevada in the 2nd quarter worth $68,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded up $0.46 on Friday, reaching $123.69. The company's stock had a trading volume of 1,644,948 shares, compared to its average volume of 665,981. The company has a 50-day simple moving average of $126.13 and a 200 day simple moving average of $123.90. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The company has a market cap of $23.81 billion, a P/E ratio of -39.14, a PEG ratio of 20.46 and a beta of 0.75.

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 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 company had revenue of $275.70 million during the quarter, compared to analysts' expectations of $279.11 million. During the same quarter in the prior year, the business posted $0.91 EPS. The company's revenue was down 10.9% on a year-over-year basis. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada's payout ratio is presently -45.57%.

Wall Street Analyst Weigh In

A number of research firms have commented on FNV. HC Wainwright raised their price target on Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, November 8th. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Bank of America downgraded 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 report on Tuesday, October 1st. Finally, Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.86.

About Franco-Nevada

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.