Tectonic Advisors LLC Reduces Stake in Franco-Nevada Co. (NYSE:FNV)

Tectonic Advisors LLC decreased its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,166 shares of the basic materials company’s stock after selling 117 shares during the period. Tectonic Advisors LLC’s holdings in Franco-Nevada were worth $642,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Graham Capital Wealth Management LLC raised its holdings in shares of Franco-Nevada by 0.4% in the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after acquiring an additional 86 shares in the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after acquiring an additional 101 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after acquiring an additional 101 shares in the last quarter. Hillsdale Investment Management Inc. raised its holdings in shares of Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares in the last quarter. Finally, Primoris Wealth Advisors LLC raised its holdings in shares of Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after acquiring an additional 112 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FNV shares. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group reduced their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Scotiabank increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Trading Down 0.1 %

Franco-Nevada stock opened at $135.65 on Friday. The firm has a market cap of $26.10 billion, a P/E ratio of -54.48, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.52. The firm has a 50-day moving average of $124.91 and a 200-day moving average of $123.28.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter in the prior year, the firm earned $0.95 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. Research analysts forecast that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors 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 yield of 1.06%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.