Beddow Capital Management Inc. Purchases 790 Shares of Franco-Nevada Co. (NYSE:FNV)

Beddow Capital Management Inc. grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,882 shares of the basic materials company’s stock after purchasing an additional 790 shares during the quarter. Franco-Nevada makes up approximately 2.9% of Beddow Capital Management Inc.’s holdings, making the stock its 12th biggest position. Beddow Capital Management Inc.’s holdings in Franco-Nevada were worth $7,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Mechanics Financial Corp lifted 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 valued at $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in Franco-Nevada during the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada in the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. boosted its stake in Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. grew its holdings in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday. Scotiabank cut their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. UBS Group began coverage on Franco-Nevada in a research report on Monday. They issued a “buy” rating and a $160.00 target price on the stock. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $157.00.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $118.45 on Tuesday. The company’s 50-day simple moving average is $126.17 and its two-hundred day simple moving average is $123.94. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The firm 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 company posted $0.91 EPS. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm 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 $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. Franco-Nevada’s payout ratio is presently -45.57%.

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.