Truist Financial Corp Has $274,000 Stake in Franco-Nevada Co. (NYSE:FNV)

Truist Financial Corp lessened its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 25.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the basic materials company’s stock after selling 779 shares during the period. Truist Financial Corp’s holdings in Franco-Nevada were worth $274,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. grew its holdings in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Franco-Nevada by 18.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,318 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 204 shares during the last quarter. Creative Planning grew its holdings in Franco-Nevada by 15.4% during the 2nd quarter. Creative Planning now owns 12,047 shares of the basic materials company’s stock worth $1,428,000 after acquiring an additional 1,608 shares during the last quarter. Susquehanna Portfolio Strategies LLC increased its position in Franco-Nevada by 0.3% in the 2nd quarter. Susquehanna Portfolio Strategies LLC now owns 95,699 shares of the basic materials company’s stock valued at $11,342,000 after acquiring an additional 299 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its stake in shares of Franco-Nevada by 33.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 15,024 shares of the basic materials company’s stock valued at $1,781,000 after acquiring an additional 3,724 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on FNV shares. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. Scotiabank upped their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday. Finally, StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Trading Up 3.9 %

NYSE:FNV opened at $132.09 on Friday. The firm has a fifty day simple moving average of $123.53 and a two-hundred day simple moving average of $122.77. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $140.40. The stock has a market capitalization of $25.42 billion, a price-to-earnings ratio of -53.05, a PEG ratio of 20.13 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was down 21.2% on a year-over-year basis. Equities analysts predict that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.09%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s payout ratio is currently -57.83%.

Franco-Nevada Company 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.