Trek Financial LLC Sells 8,894 Shares of Franco-Nevada Corporation $FNV

Trek Financial LLC cut its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 14.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,106 shares of the basic materials company’s stock after selling 8,894 shares during the period. Trek Financial LLC’s holdings in Franco-Nevada were worth $12,169,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Vise Technologies Inc. raised its stake in Franco-Nevada by 12.7% in the third quarter. Vise Technologies Inc. now owns 3,950 shares of the basic materials company’s stock worth $941,000 after buying an additional 445 shares in the last quarter. D.A. Davidson & CO. boosted its position in Franco-Nevada by 13.2% during the third quarter. D.A. Davidson & CO. now owns 10,722 shares of the basic materials company’s stock valued at $2,553,000 after purchasing an additional 1,250 shares in the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Franco-Nevada by 22.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 295 shares of the basic materials company’s stock valued at $70,000 after purchasing an additional 54 shares during the last quarter. VestGen Advisors LLC grew its position in shares of Franco-Nevada by 7.1% in the 3rd quarter. VestGen Advisors LLC now owns 6,072 shares of the basic materials company’s stock worth $1,446,000 after buying an additional 405 shares during the last quarter. Finally, Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the 3rd quarter worth approximately $36,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $225.09 on Monday. The firm has a 50 day simple moving average of $251.69 and a 200-day simple moving average of $240.11. Franco-Nevada Corporation has a 1-year low of $181.95 and a 1-year high of $285.67. The stock has a market cap of $43.41 billion, a price-to-earnings ratio of 29.42, a price-to-earnings-growth ratio of 2.61 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. During the same period in the previous year, the firm posted $1.24 EPS. The firm’s quarterly revenue was up 57.3% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corporation will post 7.39 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, September 10th. Franco-Nevada’s dividend payout ratio is 23.01%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group dropped their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research note on Monday, July 6th. Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Bank of America reduced their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada lifted their price target on Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Finally, Scotiabank reduced their price objective on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $267.80.

About Franco-Nevada

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.