Capital Performance Advisors LLP Buys New Stake in Franco-Nevada Co. (NYSE:FNV)

Capital Performance Advisors LLP purchased a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,180 shares of the basic materials company’s stock, valued at approximately $147,000.

Several other hedge funds have also bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Franco-Nevada by 116.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock worth $1,028,000 after acquiring an additional 4,637 shares during the last quarter. Inspire Advisors LLC bought a new stake in Franco-Nevada in the first quarter worth $495,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 3,404.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Avantax Advisory Services Inc. bought a new position in Franco-Nevada during the first quarter valued at $1,132,000. Finally, Janus Henderson Group PLC grew its stake in shares of Franco-Nevada by 44.4% in the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock worth $7,576,000 after buying an additional 19,551 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 2.2 %

Shares of NYSE FNV traded down $2.76 during mid-day trading on Friday, reaching $123.65. The company had a trading volume of 163,901 shares, compared to its average volume of 652,625. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The business’s 50-day moving average is $126.65 and its 200-day moving average is $124.10. The stock has a market cap of $23.80 billion, a price-to-earnings ratio of -39.99, a price-to-earnings-growth ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.91 EPS. As a group, equities research analysts forecast that Franco-Nevada Co. will post 3.25 earnings per share for the current year.

Franco-Nevada Dividend Announcement

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 $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. Franco-Nevada’s payout ratio is currently -45.57%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. HC Wainwright raised their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.57.

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.