Sequoia Financial Advisors LLC Cuts Stock Position in Franco-Nevada Co. (NYSE:FNV)

Sequoia Financial Advisors LLC lessened its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,407 shares of the basic materials company’s stock after selling 218 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Franco-Nevada were worth $299,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. Allspring Global Investments Holdings LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at $276,446,000. M&G Plc acquired a new position in Franco-Nevada during the 1st quarter worth $219,971,000. EdgePoint Investment Group Inc. grew its stake in Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Franco-Nevada during the 1st quarter worth $47,681,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.3 %

FNV stock opened at $135.98 on Tuesday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.21. The stock’s fifty day simple moving average is $125.16 and its 200-day simple moving average is $123.41. The stock has a market capitalization of $26.17 billion, a price-to-earnings ratio of -54.61, a price-to-earnings-growth ratio of 22.67 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate 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 company had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same period last year, the business earned $0.95 earnings per share. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, analysts anticipate that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group lowered their target price 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. Scotiabank upped their price objective 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. HC Wainwright reaffirmed a “buy” rating and set a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.75.

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.