AdvisorNet Financial Inc Sells 170 Shares of Franco-Nevada Co. (NYSE:FNV)

AdvisorNet Financial Inc trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 30.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 395 shares of the basic materials company’s stock after selling 170 shares during the quarter. AdvisorNet Financial Inc’s holdings in Franco-Nevada were worth $46,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Sunbelt Securities Inc. increased its holdings in shares of Franco-Nevada by 3,333.3% in 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. Point72 DIFC Ltd bought a new stake in shares of Franco-Nevada in the third quarter worth about $52,000. Erste Asset Management GmbH bought a new stake in shares of Franco-Nevada in the third quarter worth about $55,000. Birch Capital Management LLC increased its stake in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after acquiring an additional 298 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Franco-Nevada during the third quarter worth approximately $147,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

FNV opened at $125.81 on Friday. The stock has a market cap of $24.22 billion, a price-to-earnings ratio of -39.81, a P/E/G ratio of 6.90 and a beta of 0.72. The stock’s 50 day moving average price is $120.87 and its 200-day moving average price is $123.84. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 EPS. As a group, analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on FNV shares. Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reduced their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. Finally, Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

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.