DF Dent & Co. Inc. Grows Holdings in Franco-Nevada Co. (NYSE:FNV)

DF Dent & Co. Inc. grew its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 42.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 23,210 shares of the basic materials company’s stock after acquiring an additional 6,875 shares during the period. DF Dent & Co. Inc.’s holdings in Franco-Nevada were worth $2,884,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mechanics Financial Corp raised its stake in shares of Franco-Nevada by 150.0% in the 2nd 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 during the period. Mather Group LLC. purchased a new stake in Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth approximately $36,000. Sunbelt Securities Inc. increased its stake 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 during the period. Finally, Point72 DIFC Ltd purchased a new stake in Franco-Nevada during the 3rd quarter worth approximately $52,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 2.3 %

NYSE FNV opened at $120.65 on Friday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The stock has a market capitalization of $23.22 billion, a PE ratio of -38.18 and a beta of 0.72. The firm has a 50 day moving average of $125.21 and a two-hundred day moving average of $123.53.

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 (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the previous year, the company posted $0.91 EPS. The company’s quarterly revenue was down 10.9% on a year-over-year basis. 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 business 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. This represents a $1.44 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on FNV shares. Scotiabank cut 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. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. HC Wainwright upped their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target 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.