Mutual Advisors LLC Has $309,000 Stake in Franco-Nevada Co. (NYSE:FNV)

Mutual Advisors LLC boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,477 shares of the basic materials company’s stock after purchasing an additional 96 shares during the period. Mutual Advisors LLC’s holdings in Franco-Nevada were worth $309,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Covea Finance lifted its holdings in shares of Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after buying an additional 2,700 shares during the last quarter. M&G PLC lifted its stake in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares during the last quarter. Telemark Asset Management LLC lifted its stake in Franco-Nevada by 66.7% in the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after acquiring an additional 20,000 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its position in Franco-Nevada by 1.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after acquiring an additional 17,232 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Franco-Nevada by 13.9% during the 3rd 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. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the topic of several recent research reports. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. UBS Group started 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. HC Wainwright reiterated a “buy” rating and set a $155.00 price target on shares of Franco-Nevada in a report on Tuesday. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Finally, Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.33.

Franco-Nevada Price Performance

Shares of FNV opened at $130.79 on Wednesday. The firm has a 50-day moving average of $122.70 and a 200-day moving average of $124.07. The company has a market cap of $25.17 billion, a PE ratio of -41.39, a price-to-earnings-growth ratio of 7.08 and a beta of 0.72. 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 released its quarterly earnings results 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 the consensus estimate 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 was down 10.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Analysts expect that Franco-Nevada Co. will post 3.18 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

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.