2,000 Shares in Franco-Nevada Co. (NYSE:FNV) Bought by Corundum Trust Company INC

Corundum Trust Company INC bought a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,000 shares of the basic materials company’s stock, valued at approximately $248,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Graham Capital Wealth Management LLC grew its position in shares of Franco-Nevada by 0.4% in the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 86 shares during the period. Meixler Investment Management Ltd. boosted its position in Franco-Nevada by 0.5% during the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after acquiring an additional 101 shares during the last quarter. Natixis Advisors LLC boosted its position in Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after acquiring an additional 101 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 110 shares during the last quarter. Finally, Primoris Wealth Advisors LLC boosted its position in Franco-Nevada by 4.7% during the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after acquiring an additional 112 shares during 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. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research report on Friday, August 16th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

Franco-Nevada Stock Up 2.4 %

Shares of FNV opened at $135.95 on Wednesday. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $140.38. The firm’s 50 day moving average price is $123.93 and its 200 day moving average price is $122.99. The company has a market cap of $26.16 billion, a P/E ratio of -54.60, a PEG ratio of 20.13 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The business had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. During the same period in the previous year, the company earned $0.95 earnings per share. Franco-Nevada’s quarterly revenue was down 21.2% on a year-over-year basis. Research analysts forecast that Franco-Nevada Co. will post 3.26 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.06%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s payout ratio is currently -57.83%.

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.