Confluence Investment Management LLC Raises Position in Franco-Nevada Co. (NYSE:FNV)

Confluence Investment Management LLC raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,325 shares of the basic materials company’s stock after buying an additional 456 shares during the period. Confluence Investment Management LLC’s holdings in Franco-Nevada were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Graham Capital Wealth Management LLC boosted its holdings in Franco-Nevada by 0.4% during 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 acquiring an additional 86 shares during the period. Meixler Investment Management Ltd. boosted its stake in shares of Franco-Nevada by 0.5% during 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 purchasing an additional 101 shares during the period. Natixis Advisors LLC grew its holdings in shares of Franco-Nevada by 0.5% in the second 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 during the last quarter. Hillsdale Investment Management Inc. increased its stake in shares of Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 110 shares during the period. Finally, Primoris Wealth Advisors LLC raised its holdings in Franco-Nevada by 4.7% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after buying an additional 112 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

FNV stock opened at $122.44 on Friday. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60. The company has a market capitalization of $23.57 billion, a price-to-earnings ratio of -38.75, a price-to-earnings-growth ratio of 22.11 and a beta of 0.75. The business’s 50 day moving average price is $126.66 and its two-hundred day moving average price is $124.17.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued 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 firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.91 earnings per share. Sell-side analysts forecast that Franco-Nevada Co. will post 3.25 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared 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 of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada’s payout ratio is -45.57%.

Wall Street Analyst Weigh In

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