Confluence Investment Management LLC Has $681,000 Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Confluence Investment Management LLC grew its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,790 shares of the basic materials company’s stock after buying an additional 465 shares during the period. Confluence Investment Management LLC’s holdings in Franco-Nevada were worth $681,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of FNV. Franklin Resources Inc. raised its stake in Franco-Nevada by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock worth $9,957,000 after purchasing an additional 6,052 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Franco-Nevada in the third quarter valued at approximately $3,433,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Franco-Nevada in the third quarter valued at approximately $326,000. Toronto Dominion Bank grew its position in Franco-Nevada by 39.7% during the third quarter. Toronto Dominion Bank now owns 537,572 shares of the basic materials company’s stock worth $66,793,000 after buying an additional 152,680 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Franco-Nevada by 6.9% during the 3rd quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock worth $104,068,000 after acquiring an additional 54,329 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. HC Wainwright cut their price objective on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group started coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Finally, Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Trading Up 3.0 %

Shares of Franco-Nevada stock opened at $121.13 on Friday. The firm has a market capitalization of $23.32 billion, a PE ratio of -38.33 and a beta of 0.72. The firm’s 50 day moving average is $122.45 and its 200 day moving average is $123.23. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the firm posted $0.91 EPS. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. Franco-Nevada’s payout ratio is presently -45.57%.

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.