Franco-Nevada Co. (NYSE:FNV) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,083,817 shares of the basic materials company's stock after selling 52,532 shares during the period. The Manufacturers Life Insurance Company owned about 1.08% of Franco-Nevada worth $258,984,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FNV. Silvercrest Asset Management Group LLC raised its holdings in Franco-Nevada by 14.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 8,591 shares of the basic materials company's stock valued at $1,024,000 after acquiring an additional 1,080 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Franco-Nevada by 44.4% in the first quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company's stock valued at $7,576,000 after acquiring an additional 19,551 shares in the last quarter. Adalta Capital Management LLC raised its holdings in Franco-Nevada by 28.2% in the first quarter. Adalta Capital Management LLC now owns 11,390 shares of the basic materials company's stock valued at $1,357,000 after acquiring an additional 2,505 shares in the last quarter. EdgePoint Investment Group Inc. raised its holdings in Franco-Nevada by 68.1% in the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company's stock valued at $328,972,000 after acquiring an additional 1,117,523 shares in the last quarter. Finally, Wahed Invest LLC raised its holdings in Franco-Nevada by 39.1% in the first quarter. Wahed Invest LLC now owns 2,110 shares of the basic materials company's stock valued at $252,000 after acquiring an additional 593 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have weighed in on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Scotiabank lowered their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note 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, November 18th. Jefferies Financial Group lowered 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 note on Thursday, October 17th. Finally, StockNews.com upgraded shares of Franco-Nevada from a "sell" rating to a "hold" rating in a research note on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus price target of $148.86.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded up $1.98 during trading on Tuesday, hitting $122.55. 1,261,000 shares of the stock were exchanged, compared to its average volume of 668,979. The stock's fifty day moving average is $126.01 and its 200 day moving average is $123.81. The stock has a market cap of $23.59 billion, a PE ratio of -38.79, a P/E/G ratio of 20.87 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.

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

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. Franco-Nevada's dividend payout ratio is presently -45.57%.

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.