10,112 Shares in Franco-Nevada Co. (NYSE:FNV) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,112 shares of the basic materials company’s stock, valued at approximately $1,256,000.

A number of other large investors have also recently made changes to their positions in the company. Mechanics Financial Corp increased its stake in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. purchased a new position in Franco-Nevada in the second quarter valued at approximately $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada in the second quarter valued at approximately $36,000. Sunbelt Securities Inc. increased its stake in Franco-Nevada by 3,333.3% in the second 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 last quarter. Finally, Hillsdale Investment Management Inc. increased its stake in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 110 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank raised their target price on shares of 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 lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $154.57.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $132.01 on Tuesday. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60. The business has a fifty day moving average of $126.03 and a two-hundred day moving average of $123.87. The company has a market cap of $25.41 billion, a P/E ratio of -43.42, a price-to-earnings-growth ratio of 22.19 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released 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 business had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. During the same period last year, the business posted $0.95 EPS. Franco-Nevada’s revenue was down 21.2% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada Co. will post 3.25 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently -47.37%.

About Franco-Nevada

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.