Natixis Advisors LLC Raises Stock Position in Franco-Nevada Co. (NYSE:FNV)

Natixis Advisors LLC lifted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,404 shares of the basic materials company’s stock after purchasing an additional 1,237 shares during the period. Natixis Advisors LLC’s holdings in Franco-Nevada were worth $2,535,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. M&G PLC boosted its stake in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after acquiring an additional 706,919 shares during the last quarter. Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Franco-Nevada by 44.4% during the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock worth $7,576,000 after purchasing an additional 19,551 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in Franco-Nevada by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 155,836 shares of the basic materials company’s stock valued at $18,472,000 after purchasing an additional 6,202 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

NYSE FNV opened at $123.69 on Monday. The business has a fifty day moving average price of $126.10 and a two-hundred day moving average price of $123.85. The stock has a market capitalization of $23.81 billion, a PE ratio of -39.14, a PEG ratio of 20.79 and a beta of 0.75. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data 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). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter last year, the business earned $0.91 EPS. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Analysts Set New Price Targets

FNV has been the topic of several recent analyst reports. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. UBS Group initiated coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $148.86.

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.