Franco-Nevada Co. (NYSE:FNV) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 28.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,926 shares of the basic materials company's stock after selling 31,014 shares during the quarter. Wellington Management Group LLP's holdings in Franco-Nevada were worth $9,689,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wahed Invest LLC lifted its position in shares of Franco-Nevada by 13.5% during the 3rd quarter. Wahed Invest LLC now owns 2,564 shares of the basic materials company's stock worth $319,000 after purchasing an additional 305 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock worth $119,069,000 after buying an additional 359,900 shares during the last quarter. Stansberry Asset Management LLC boosted its position in shares of Franco-Nevada by 10.9% during the 3rd quarter. Stansberry Asset Management LLC now owns 14,120 shares of the basic materials company's stock worth $1,754,000 after acquiring an additional 1,384 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Franco-Nevada by 60.0% in the 3rd quarter. Stifel Financial Corp now owns 40,012 shares of the basic materials company's stock valued at $4,972,000 after acquiring an additional 15,008 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Franco-Nevada by 6.5% during the 3rd quarter. Quantinno Capital Management LP now owns 23,233 shares of the basic materials company's stock worth $2,887,000 after acquiring an additional 1,409 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FNV shares. UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They issued a "buy" rating and a $160.00 price target for the company. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Jefferies Financial Group cut their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Scotiabank dropped their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Four investment 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 an average rating of "Moderate Buy" and an average price target of $152.83.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $0.21 on Monday, reaching $119.25. The company's stock had a trading volume of 516,285 shares, compared to its average volume of 662,105. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $137.60. The stock's 50-day moving average is $125.04 and its two-hundred day moving average is $123.47. The stock has a market capitalization of $22.95 billion, a P/E ratio of -37.74 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm's revenue was down 10.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. Equities 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. Investors of record on Thursday, December 5th will be given a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. Franco-Nevada's dividend payout ratio (DPR) is -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.