Montrusco Bolton Investments Inc. Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Montrusco Bolton Investments Inc. lessened its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 63.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,406 shares of the basic materials company’s stock after selling 283,618 shares during the quarter. Montrusco Bolton Investments Inc. owned about 0.09% of Franco-Nevada worth $20,691,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Icon Wealth Advisors LLC purchased a new position in Franco-Nevada during the 3rd quarter valued at approximately $158,000. Telemark Asset Management LLC grew its holdings in 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 valued at $6,212,000 after buying an additional 20,000 shares in the last quarter. Citigroup Inc. grew its holdings in Franco-Nevada by 33.1% during the 3rd quarter. Citigroup Inc. now owns 36,710 shares of the basic materials company’s stock valued at $4,565,000 after buying an additional 9,119 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Franco-Nevada by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company’s stock valued at $50,623,000 after buying an additional 19,589 shares in the last quarter. Finally, America First Investment Advisors LLC grew its holdings in Franco-Nevada by 4.3% during the 3rd quarter. America First Investment Advisors LLC now owns 161,765 shares of the basic materials company’s stock valued at $20,099,000 after buying an additional 6,717 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.86.

Franco-Nevada Price Performance

Shares of FNV stock opened at $123.63 on Friday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The stock has a 50 day moving average price of $126.13 and a 200 day moving average price of $123.90.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada’s payout ratio is currently -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.