Fiera Capital Corp Has $43.96 Million Position in Franco-Nevada Co. (NYSE:FNV)

Fiera Capital Corp reduced its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 353,438 shares of the basic materials company’s stock after selling 37,700 shares during the period. Fiera Capital Corp’s holdings in Franco-Nevada were worth $43,955,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in FNV. Capital Performance Advisors LLP acquired a new position in Franco-Nevada during the 3rd quarter worth approximately $147,000. Hudson Value Partners LLC raised its position in shares of Franco-Nevada by 1.8% during the third quarter. Hudson Value Partners LLC now owns 30,489 shares of the basic materials company’s stock worth $3,788,000 after purchasing an additional 539 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of Franco-Nevada by 9.4% in the 3rd quarter. Confluence Investment Management LLC now owns 5,325 shares of the basic materials company’s stock worth $662,000 after purchasing an additional 456 shares in the last quarter. Malaga Cove Capital LLC acquired a new stake in Franco-Nevada in the 3rd quarter valued at $208,000. Finally, M&G PLC increased its stake in Franco-Nevada by 3.2% during the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on FNV shares. HC Wainwright raised their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $156.57.

Franco-Nevada Trading Down 2.2 %

Shares of FNV stock traded down $2.78 on Friday, hitting $123.63. 277,524 shares of the stock were exchanged, compared to its average volume of 653,148. The firm’s 50 day moving average is $126.65 and its two-hundred day moving average is $124.10. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60. The firm has a market capitalization of $23.80 billion, a PE ratio of -39.99, a P/E/G ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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). The business had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period last year, the company earned $0.91 earnings per share. On average, sell-side analysts expect that Franco-Nevada Co. will post 3.25 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid 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 1.16%. Franco-Nevada’s dividend payout ratio is -45.57%.

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.