Franco-Nevada Co. (NYSE:FNV) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380,730 shares of the basic materials company’s stock after purchasing an additional 29,512 shares during the quarter. National Bank of Canada FI owned approximately 0.72% of Franco-Nevada worth $171,513,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. EP Wealth Advisors LLC increased its stake in shares of Franco-Nevada by 8.7% in the third quarter. EP Wealth Advisors LLC now owns 2,183 shares of the basic materials company’s stock worth $271,000 after buying an additional 175 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Wahed Invest LLC increased its stake in Franco-Nevada by 13.5% during the third quarter. Wahed Invest LLC now owns 2,564 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 305 shares during the last quarter. Two Sigma Advisers LP raised its holdings in shares of Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares during the period. Finally, Stansberry Asset Management LLC lifted its position in shares of Franco-Nevada by 10.9% in the 3rd quarter. Stansberry Asset Management LLC now owns 14,120 shares of the basic materials company’s stock worth $1,754,000 after buying an additional 1,384 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Down 2.3 %

Franco-Nevada stock opened at $120.66 on Friday. The company’s 50-day moving average price is $125.21 and its two-hundred day moving average price is $123.56. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of -38.18 and a beta of 0.72. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly 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 business 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% compared to the same quarter last year. During the same period in the previous year, the company posted $0.91 earnings per share. Research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $152.83.

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.