Franco-Nevada Co. (NYSE:FNV) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 62.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,000 shares of the basic materials company’s stock after selling 250,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.08% of Franco-Nevada worth $17,786,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Clearbridge Investments LLC increased its position in Franco-Nevada by 4,361.2% during the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock worth $32,659,000 after purchasing an additional 269,394 shares during the last quarter. Graham Capital Wealth Management LLC boosted its stake in shares of Franco-Nevada by 0.4% in the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 86 shares during the period. Sunbelt Securities Inc. boosted its stake in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Franco-Nevada by 18.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,318 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 204 shares during the last quarter. Finally, Creative Planning boosted its stake in Franco-Nevada by 15.4% during the 2nd quarter. Creative Planning now owns 12,047 shares of the basic materials company’s stock valued at $1,428,000 after acquiring an additional 1,608 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on FNV. Scotiabank increased their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research report on Friday, August 16th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.38.

Franco-Nevada Trading Down 2.4 %

FNV opened at $121.72 on Friday. The stock has a market capitalization of $23.42 billion, a PE ratio of -48.88, a PEG ratio of 21.28 and a beta of 0.76. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $142.60. The firm has a 50-day moving average price of $123.52 and a two-hundred day moving average price of $122.23.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company’s revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. On average, research analysts predict that Franco-Nevada Co. will post 3.23 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s payout ratio is presently -57.83%.

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.