Franco-Nevada Co. (NYSE:FNV) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC cut its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,045 shares of the basic materials company’s stock after selling 725 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Franco-Nevada were worth $1,745,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mechanics Financial Corp boosted its position in shares of 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 buying an additional 150 shares during the period. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the second quarter worth about $33,000. Kings Path Partners LLC purchased a new stake in shares of Franco-Nevada in the second quarter worth about $36,000. Sunbelt Securities Inc. boosted its position 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 buying an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. boosted its holdings 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. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.5 %

NYSE:FNV opened at $113.24 on Thursday. The business’s 50 day moving average is $126.37 and its two-hundred day moving average is $124.05. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The company has a market cap of $21.80 billion, a PE ratio of -35.84, a P/E/G ratio of 19.40 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Jefferies Financial Group reduced their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $156.57.

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.