Sunbelt Securities Inc. Has $49,000 Stake in Franco-Nevada Co. (NYSE:FNV)

Sunbelt Securities Inc. boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3,333.3% during the second quarter, Holdings Channel reports. The institutional investor owned 412 shares of the basic materials company’s stock after acquiring an additional 400 shares during the quarter. Sunbelt Securities Inc.’s holdings in Franco-Nevada were worth $49,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of FNV. Mechanics Financial Corp lifted its holdings in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. acquired a new position in Franco-Nevada in the second quarter worth about $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada during the second quarter worth about $36,000. Fortis Group Advisors LLC raised its holdings in shares of Franco-Nevada by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 119 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.7 %

Franco-Nevada stock opened at $120.86 on Friday. The business’s 50-day simple moving average is $123.47 and its 200 day simple moving average is $122.23. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of -48.54, a P/E/G ratio of 21.28 and a beta of 0.76. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $142.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.23 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of analyst reports. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut 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 research report on Tuesday. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $133.00 to $137.00 and gave the company a “hold” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a report on Friday, August 16th. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $152.88.

About Franco-Nevada

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.