EP Wealth Advisors LLC Boosts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

EP Wealth Advisors LLC grew its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,183 shares of the basic materials company’s stock after buying an additional 175 shares during the quarter. EP Wealth Advisors LLC’s holdings in Franco-Nevada were worth $271,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. M&G PLC grew its position in Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of 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 acquiring an additional 706,919 shares in the last quarter. Telemark Asset Management LLC boosted its stake in shares of Franco-Nevada by 66.7% during the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after acquiring an additional 20,000 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after acquiring an additional 17,232 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group dropped their price objective 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, October 17th. HC Wainwright lifted their price objective on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Stock Down 1.8 %

Shares of NYSE:FNV opened at $119.42 on Friday. The company has a 50 day moving average of $125.07 and a two-hundred day moving average of $123.50. Franco-Nevada Co. has a 52-week low of $103.64 and a 52-week high of $137.60. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of -37.79 and a beta of 0.72.

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

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

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.