Oxbow Advisors LLC Grows Position in Franco-Nevada Co. (NYSE:FNV)

Oxbow Advisors LLC increased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,862 shares of the basic materials company’s stock after purchasing an additional 510 shares during the period. Oxbow Advisors LLC’s holdings in Franco-Nevada were worth $2,095,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter worth approximately $276,446,000. M&G Plc purchased a new stake in shares of Franco-Nevada in the first quarter worth $219,971,000. EdgePoint Investment Group Inc. raised its position in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after purchasing an additional 1,117,523 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake 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 worth $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Franco-Nevada during the 1st quarter valued at about $47,681,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

NYSE FNV traded down $3.97 during trading hours on Friday, hitting $122.44. 877,398 shares of the company’s stock traded hands, compared to its average volume of 630,356. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The business’s fifty day moving average price is $126.66 and its two-hundred day moving average price is $124.13.

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 10.63%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the firm earned $0.91 EPS. The company’s revenue was down 10.9% on a year-over-year basis. On average, research analysts anticipate that Franco-Nevada Co. will post 3.25 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on FNV shares. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. HC Wainwright boosted their target price on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Scotiabank lowered their price objective 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. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has an average 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.