BNP Paribas Financial Markets Has $4.32 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

BNP Paribas Financial Markets cut its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.7% during the 3rd quarter, Holdings Channel reports. The firm owned 34,729 shares of the basic materials company’s stock after selling 4,167 shares during the quarter. BNP Paribas Financial Markets’ holdings in Franco-Nevada were worth $4,315,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC grew its stake in Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after buying an additional 17,232 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Franco-Nevada in the 3rd quarter valued at about $717,000. Cerity Partners LLC grew its stake in Franco-Nevada by 28.4% in the 3rd quarter. Cerity Partners LLC now owns 3,581 shares of the basic materials company’s stock valued at $445,000 after buying an additional 791 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in Franco-Nevada in the 3rd quarter valued at about $158,000. Finally, Telemark Asset Management LLC grew its stake in Franco-Nevada by 66.7% in the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after buying an additional 20,000 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank decreased their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $152.83.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $122.34 on Thursday. The company has a market cap of $23.55 billion, a price-to-earnings ratio of -38.72 and a beta of 0.72. The firm has a 50 day simple moving average of $125.56 and a 200 day simple moving average of $123.63. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. 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 EPS. As a group, analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Franco-Nevada Company 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.