Connor Clark & Lunn Investment Management Ltd. Has $84.31 Million Position in Franco-Nevada Co. (NYSE:FNV)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 678,916 shares of the basic materials company’s stock after selling 14,700 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Franco-Nevada were worth $84,314,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes in the company. Mechanics Financial Corp increased its holdings in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada in the second quarter valued at $33,000. Kings Path Partners LLC bought a new position in shares of Franco-Nevada in the second quarter valued at about $36,000. Sunbelt Securities Inc. lifted its position in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after buying an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new stake in Franco-Nevada during the 2nd quarter worth about $68,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Up 2.4 %

FNV stock opened at $121.27 on Wednesday. The company has a market cap of $23.34 billion, a price-to-earnings ratio of -38.38, a P/E/G ratio of 19.22 and a beta of 0.75. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60. The business has a 50 day moving average price of $126.17 and a two-hundred day moving average price of $123.93.

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

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. Franco-Nevada’s payout ratio is -45.57%.

Analyst Upgrades and Downgrades

FNV has been the topic of several research analyst reports. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday. HC Wainwright upped their price target on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Scotiabank reduced their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Four equities 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 presently has a consensus rating of “Moderate Buy” and an average price target of $157.00.

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.