Raymond James & Associates Purchases 4,768 Shares of Franco-Nevada Co. (NYSE:FNV)

Raymond James & Associates grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 187,263 shares of the basic materials company’s stock after purchasing an additional 4,768 shares during the quarter. Raymond James & Associates owned approximately 0.10% of Franco-Nevada worth $23,267,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Mechanics Financial Corp raised its position in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the 2nd quarter worth $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada in the 2nd quarter worth $36,000. Sunbelt Securities Inc. lifted its position in Franco-Nevada by 3,333.3% during 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 in the last quarter. Finally, Hillsdale Investment Management Inc. grew its holdings in Franco-Nevada by 33.3% during 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 period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.3 %

Shares of FNV stock opened at $135.82 on Friday. The stock has a market capitalization of $26.14 billion, a price-to-earnings ratio of -54.55, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $139.93. The stock’s 50-day moving average price is $124.63 and its 200-day moving average price is $123.18.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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 EPS. The business’s revenue was down 21.2% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Co. will post 3.26 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 dividend yield of 1.06%. Franco-Nevada’s payout ratio is currently -57.83%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of analyst reports. Scotiabank lifted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus 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.