Stegent Equity Advisors Inc. Buys Shares of 2,443 Franco-Nevada Co. (NYSE:FNV)

Stegent Equity Advisors Inc. purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,443 shares of the basic materials company’s stock, valued at approximately $304,000.

Several other institutional investors have also modified their holdings of FNV. Mediolanum International Funds Ltd acquired a new stake in Franco-Nevada during the 1st quarter worth approximately $8,340,000. Vanguard Group Inc. raised its holdings in shares of Franco-Nevada by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock worth $802,731,000 after acquiring an additional 139,826 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Franco-Nevada by 116.2% in the 1st 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 acquiring an additional 4,637 shares in the last quarter. Inspire Advisors LLC acquired a new position in Franco-Nevada in the 1st quarter worth $495,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FNV. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Up 3.9 %

Shares of FNV stock traded up $4.95 on Friday, reaching $132.13. The stock had a trading volume of 606,780 shares, compared to its average volume of 649,736. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $140.40. The firm has a market capitalization of $25.43 billion, a price-to-earnings ratio of -53.06, a P/E/G ratio of 20.13 and a beta of 0.76. The firm’s 50-day moving average is $123.53 and its two-hundred day moving average is $122.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $277.44 million. During the same quarter in the prior year, the company earned $0.95 EPS. Franco-Nevada’s quarterly revenue was down 21.2% on a year-over-year basis. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal 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 given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.09%. Franco-Nevada’s dividend payout ratio (DPR) is -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.