Trek Financial LLC trimmed its position in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 14.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,106 shares of the basic materials company’s stock after selling 8,894 shares during the period. Trek Financial LLC’s holdings in Franco-Nevada were worth $12,169,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. New Harbor Financial Group LLC grew its holdings in shares of Franco-Nevada by 2.4% in the third quarter. New Harbor Financial Group LLC now owns 1,871 shares of the basic materials company’s stock valued at $446,000 after purchasing an additional 44 shares in the last quarter. PFG Investments LLC grew its stake in shares of Franco-Nevada by 0.7% in the first quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock worth $1,782,000 after acquiring an additional 52 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Franco-Nevada by 2.1% during the first quarter. Parallel Advisors LLC now owns 2,605 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 53 shares during the period. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Franco-Nevada by 22.4% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 295 shares of the basic materials company’s stock valued at $70,000 after acquiring an additional 54 shares in the last quarter. Finally, SBI Securities Co. Ltd. boosted its holdings in Franco-Nevada by 10.8% in the third quarter. SBI Securities Co. Ltd. now owns 594 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 58 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
Franco-Nevada Stock Performance
Shares of NYSE:FNV opened at $225.09 on Monday. The company has a 50-day simple moving average of $251.69 and a 200-day simple moving average of $240.11. Franco-Nevada Corporation has a one year low of $181.95 and a one year high of $285.67. The stock has a market capitalization of $43.41 billion, a price-to-earnings ratio of 29.42, a PEG ratio of 2.61 and a beta of 0.34.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business’s quarterly revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the business earned $1.24 earnings per share. As a group, research analysts forecast that Franco-Nevada Corporation will post 7.39 EPS for the current fiscal year.
Franco-Nevada Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is presently 23.01%.
Analyst Ratings Changes
FNV has been the subject of a number of analyst reports. Bank of America lowered their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on shares of Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. Weiss Ratings raised shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Finally, Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $267.80.
About Franco-Nevada
Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.
The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.
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