JPMorgan Chase & Co. Has $113.96 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

JPMorgan Chase & Co. lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 917,176 shares of the basic materials company’s stock after selling 51,950 shares during the period. JPMorgan Chase & Co. owned 0.48% of Franco-Nevada worth $113,959,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Franklin Resources Inc. raised its position in Franco-Nevada by 8.3% during the third quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock worth $9,957,000 after acquiring an additional 6,052 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in Franco-Nevada in the 3rd quarter valued at about $3,433,000. Wilmington Savings Fund Society FSB acquired a new position in Franco-Nevada during the third quarter worth approximately $326,000. Toronto Dominion Bank raised its stake in Franco-Nevada by 39.7% in the third quarter. Toronto Dominion Bank now owns 537,572 shares of the basic materials company’s stock valued at $66,793,000 after buying an additional 152,680 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Franco-Nevada by 6.9% in the third quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock valued at $104,068,000 after buying an additional 54,329 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.5 %

NYSE FNV opened at $117.59 on Thursday. The company has a market cap of $22.64 billion, a price-to-earnings ratio of -37.21 and a beta of 0.72. The company has a 50 day moving average of $122.75 and a 200-day moving average of $123.24. Franco-Nevada Co. has a 1-year low of $103.64 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.22%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Scotiabank decreased their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. HC Wainwright reduced their target price on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a report on Friday, December 20th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

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.