Beddow Capital Management Inc. Increases Holdings in Franco-Nevada Co. (NYSE:FNV)

Beddow Capital Management Inc. increased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 57,092 shares of the basic materials company’s stock after acquiring an additional 193 shares during the quarter. Franco-Nevada comprises 3.0% of Beddow Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Beddow Capital Management Inc.’s holdings in Franco-Nevada were worth $6,767,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in Franco-Nevada in the 2nd quarter worth about $276,446,000. M&G Plc bought a new position in Franco-Nevada in the 1st quarter worth about $219,971,000. Capital World Investors boosted its stake in Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock worth $495,909,000 after purchasing an additional 1,405,731 shares during the period. EdgePoint Investment Group Inc. boosted its stake in Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the period. Finally, FIL Ltd boosted its stake in Franco-Nevada by 7.8% in the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after purchasing an additional 659,324 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $128.36 on Friday. The business’s 50 day simple moving average is $123.49 and its two-hundred day simple moving average is $121.44. The stock has a market capitalization of $24.70 billion, a P/E ratio of -51.55, a price-to-earnings-growth ratio of 20.59 and a beta of 0.76. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $143.02.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period last year, the firm earned $0.95 earnings per share. Sell-side analysts expect that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.12%. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FNV shares. Scotiabank lifted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America lifted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group raised their price objective on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $152.75.

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.