Birch Capital Management LLC Purchases 298 Shares of Franco-Nevada Co. (NYSE:FNV)

Birch Capital Management LLC raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 37.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,085 shares of the basic materials company’s stock after buying an additional 298 shares during the period. Birch Capital Management LLC’s holdings in Franco-Nevada were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FNV. Sunbelt Securities Inc. lifted its stake in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada in the third quarter worth $52,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $55,000. Capital Performance Advisors LLP bought a new position in Franco-Nevada in the third quarter worth approximately $147,000. Finally, Icon Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 3rd quarter worth approximately $151,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. HC Wainwright dropped their price target on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Price Performance

FNV traded up $2.47 during trading on Tuesday, hitting $123.19. The company’s stock had a trading volume of 343,115 shares, compared to its average volume of 551,730. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $137.60. The stock has a market cap of $23.71 billion, a PE ratio of -38.98 and a beta of 0.72. The firm’s 50 day moving average price is $121.88 and its 200-day moving average price is $123.39.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results 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). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter last year, the firm earned $0.91 EPS. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. Equities analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. Franco-Nevada’s dividend payout ratio (DPR) is presently -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.