Cwm LLC Trims Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Cwm LLC reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 17.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 760 shares of the basic materials company’s stock after selling 164 shares during the period. Cwm LLC’s holdings in Franco-Nevada were worth $94,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FNV. Mechanics Financial Corp lifted its holdings in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. bought a new position in Franco-Nevada in the 2nd quarter worth $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada in the 2nd quarter worth $36,000. Sunbelt Securities Inc. boosted its holdings in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings in Franco-Nevada by 33.3% in the 1st 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. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock opened at $135.62 on Friday. The company has a market capitalization of $26.11 billion, a P/E ratio of -44.61, a P/E/G ratio of 22.67 and a beta of 0.76. The company’s 50-day simple moving average is $124.91 and its two-hundred day simple moving average is $123.29. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its 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 the consensus estimate 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 was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 earnings per share. On average, research analysts expect that Franco-Nevada Co. will post 3.26 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. Franco-Nevada’s dividend payout ratio is presently -47.37%.

Analyst Ratings Changes

FNV has been the subject of several recent analyst reports. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank boosted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. HC Wainwright reiterated a “buy” rating and issued a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Finally, Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada currently 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.