Northwestern Mutual Wealth Management Co. Grows Position in Franco-Nevada Co. (NYSE:FNV)

Northwestern Mutual Wealth Management Co. lifted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 18.3% in the second quarter, Holdings Channel reports. The firm owned 1,318 shares of the basic materials company’s stock after purchasing an additional 204 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Franco-Nevada were worth $156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mediolanum International Funds Ltd acquired a new stake in shares of Franco-Nevada in the first quarter worth $8,340,000. Vanguard Group Inc. increased its holdings in Franco-Nevada by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock valued at $802,731,000 after purchasing an additional 139,826 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Franco-Nevada by 116.2% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock valued at $1,028,000 after purchasing an additional 4,637 shares during the period. Inspire Advisors LLC acquired a new position in shares of Franco-Nevada during the first quarter worth about $495,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after buying an additional 706,919 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $122.90 on Friday. The stock has a market capitalization of $23.65 billion, a price-to-earnings ratio of -49.36, a PEG ratio of 21.28 and a beta of 0.76. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $142.60. The company’s 50-day simple moving average is $122.91 and its 200-day simple moving average is $122.41.

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 the consensus estimate of $0.78 by ($0.03). The firm had revenue of $260.10 million during 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%. Franco-Nevada’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. As a group, research analysts forecast that Franco-Nevada Co. will post 3.23 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued 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 1.17%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FNV shares. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group boosted their target price on shares of Franco-Nevada from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 4th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank boosted their price objective 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. Finally, StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $152.88.

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.