Tri Ri Asset Management Corp Takes $3.43 Million Position in Franco-Nevada Co. (NYSE:FNV)

Tri Ri Asset Management Corp purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 27,632 shares of the basic materials company's stock, valued at approximately $3,433,000. Franco-Nevada accounts for 3.8% of Tri Ri Asset Management Corp's investment portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Graham Capital Wealth Management LLC boosted its holdings in Franco-Nevada by 0.4% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company's stock valued at $2,511,000 after purchasing an additional 86 shares in the last quarter. Meixler Investment Management Ltd. lifted its holdings in Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company's stock valued at $2,543,000 after acquiring an additional 101 shares during the period. Natixis Advisors LLC boosted its position in shares of Franco-Nevada by 0.5% during the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company's stock worth $2,272,000 after purchasing an additional 101 shares in the last quarter. Huntington National Bank grew its stake in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock worth $185,000 after purchasing an additional 102 shares during the period. Finally, Primoris Wealth Advisors LLC increased its holdings in shares of Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company's stock valued at $293,000 after purchasing an additional 112 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FNV. HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a "buy" rating in a report on Friday, November 8th. Jefferies Financial Group dropped their price objective on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research note on Thursday, October 17th. Scotiabank decreased their target price on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a "buy" rating and a $160.00 price target for the company. Finally, StockNews.com upgraded shares of Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $152.83.

Franco-Nevada Stock Performance

FNV stock traded down $2.96 during trading on Thursday, hitting $121.49. The stock had a trading volume of 204,967 shares, compared to its average volume of 662,544. Franco-Nevada Co. has a 1-year low of $103.33 and a 1-year high of $137.60. The stock has a market cap of $23.39 billion, a price-to-earnings ratio of -39.38 and a beta of 0.72. The company's 50 day moving average price is $125.10 and its two-hundred day moving average price is $123.53.

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

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.19%. Franco-Nevada's payout ratio is -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.