Graham Capital Wealth Management LLC Purchases 86 Shares of Franco-Nevada Co. (NYSE:FNV)

Graham Capital Wealth Management LLC boosted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,183 shares of the basic materials company’s stock after acquiring an additional 86 shares during the quarter. Franco-Nevada accounts for about 3.4% of Graham Capital Wealth Management LLC’s holdings, making the stock its 9th biggest holding. Graham Capital Wealth Management LLC’s holdings in Franco-Nevada were worth $2,511,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its stake in Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. FIL Ltd increased its stake in Franco-Nevada by 7.8% in the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after purchasing an additional 659,324 shares during the last quarter. Van ECK Associates Corp increased its stake in Franco-Nevada by 1.8% in the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after purchasing an additional 151,566 shares during the last quarter. Vanguard Group Inc. increased its stake in Franco-Nevada by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after purchasing an additional 129,876 shares during the last quarter. Finally, Capital World Investors increased its stake in Franco-Nevada by 2.7% in the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock valued at $547,807,000 after purchasing an additional 120,367 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $124.25 on Tuesday. The stock has a fifty day moving average price of $123.54 and a 200 day moving average price of $122.14. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $142.60. The company has a market cap of $23.91 billion, a PE ratio of -49.90, a P/E/G ratio of 21.28 and a beta of 0.76.

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 for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. During the same period in the prior year, the business earned $0.95 earnings per share. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. Analysts anticipate that Franco-Nevada Co. will post 3.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent analyst reports. Scotiabank increased their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Jefferies Financial Group raised their target price on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Bank of America raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright restated a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a research report on Friday, August 16th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

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.