Franco-Nevada Co. (NYSE:FNV) Shares Sold by Plancorp LLC

Plancorp LLC decreased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 30.2% in the second quarter, Holdings Channel reports. The institutional investor owned 21,338 shares of the basic materials company’s stock after selling 9,242 shares during the period. Plancorp LLC’s holdings in Franco-Nevada were worth $2,529,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FNV. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada during the second quarter worth approximately $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada in the 2nd quarter valued at $36,000. Fortis Group Advisors LLC lifted its holdings in Franco-Nevada by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 176 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its stake in 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 purchasing an additional 119 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of recent research reports. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America boosted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Scotiabank raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Finally, Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Price Performance

NYSE FNV opened at $124.97 on Tuesday. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $145.74. The stock has a market capitalization of $24.05 billion, a P/E ratio of -50.19, a PEG ratio of 20.59 and a beta of 0.76. The firm’s 50-day moving average is $123.49 and its two-hundred day moving average is $120.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The company had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The business’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. As a group, analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.