Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% in the third quarter, HoldingsChannel reports. The firm owned 38,500 shares of the basic materials company’s stock after acquiring an additional 4,100 shares during the quarter. Forsta AP Fonden’s holdings in Franco-Nevada were worth $4,787,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mechanics Financial Corp lifted its holdings in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. purchased a new position in Franco-Nevada during the second quarter valued at approximately $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada during the second quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its position in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Franco-Nevada by 33.3% during the first 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. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the subject of several recent research reports. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. HC Wainwright restated a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group cut their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Performance

Shares of FNV opened at $135.98 on Tuesday. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.21. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of -54.61, a PEG ratio of 22.67 and a beta of 0.76. The stock has a 50 day moving average price of $125.16 and a 200 day moving average price of $123.41.

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). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The firm had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. On average, analysts predict that Franco-Nevada Co. will post 3.26 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

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.