Franco-Nevada Co. (NYSE:FNV) Shares Sold by Forsta AP Fonden

Forsta AP Fonden lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,400 shares of the basic materials company’s stock after selling 3,600 shares during the quarter. Forsta AP Fonden’s holdings in Franco-Nevada were worth $4,078,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mechanics Financial Corp raised its stake in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $36,000. Fortis Group Advisors LLC raised its position in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 176 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FNV. Jefferies Financial Group increased their price target on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank increased their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Bank of America increased their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $125.13 on Friday. The stock has a fifty day moving average price of $123.49 and a two-hundred day moving average price of $120.88. The firm has a market cap of $24.08 billion, a P/E ratio of -50.25, a PEG ratio of 20.59 and a beta of 0.76. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $145.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. On average, research analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s payout ratio is currently -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.