Franco-Nevada Co. (NYSE:FNV) Shares Sold by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC lowered its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,925 shares of the basic materials company’s stock after selling 203 shares during the quarter. Iron Gate Global Advisors LLC’s holdings in Franco-Nevada were worth $239,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mechanics Financial Corp boosted its stake in Franco-Nevada by 150.0% during the 2nd 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 last quarter. Mather Group LLC. acquired a new position in shares of Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. increased its stake 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 worth $49,000 after purchasing an additional 400 shares during the period. Finally, Erste Asset Management GmbH purchased a new stake in Franco-Nevada during the third quarter worth about $55,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

FNV has been the topic of several analyst reports. HC Wainwright raised their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. UBS Group assumed coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group dropped their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Trading Down 1.0 %

Shares of FNV opened at $121.37 on Tuesday. The company’s 50 day simple moving average is $125.67 and its 200-day simple moving average is $123.67. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $137.60. The firm has a market cap of $23.36 billion, a PE ratio of -38.41 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period in the prior year, the business earned $0.91 earnings per share. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, equities research analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

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.