Franco-Nevada Co. (NYSE:FNV) Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 131,884 shares of the basic materials company’s stock after selling 4,651 shares during the quarter. Northwest & Ethical Investments L.P. owned approximately 0.07% of Franco-Nevada worth $16,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Franco-Nevada by 8.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 89,489 shares of the basic materials company’s stock worth $11,127,000 after purchasing an additional 6,676 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its stake in Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Franco-Nevada in the 3rd quarter valued at about $717,000. Cerity Partners LLC boosted its stake in shares of Franco-Nevada by 28.4% during the 3rd quarter. Cerity Partners LLC now owns 3,581 shares of the basic materials company’s stock worth $445,000 after purchasing an additional 791 shares during the last quarter. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada during the third quarter worth about $158,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.3 %

Shares of FNV traded up $0.36 during mid-day trading on Thursday, reaching $122.93. 335,016 shares of the stock traded hands, compared to its average volume of 667,527. The stock has a fifty day simple moving average of $125.97 and a 200 day simple moving average of $123.77. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $137.60. The firm has a market cap of $23.66 billion, a price-to-earnings ratio of -39.00, a P/E/G ratio of 20.38 and a beta of 0.75.

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 (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period last year, the firm earned $0.91 EPS. On average, equities research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors 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 1.17%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FNV shares. HC Wainwright raised their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.86.

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.