Y Intercept Hong Kong Ltd Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Y Intercept Hong Kong Ltd purchased a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,841 shares of the basic materials company’s stock, valued at approximately $601,000.

Several other hedge funds have also added to or reduced their stakes in the business. Graham Capital Wealth Management LLC lifted its stake in 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 worth $2,511,000 after purchasing an additional 86 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after purchasing an additional 101 shares during the last quarter. Natixis Advisors LLC lifted its stake in Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares during the last quarter. Huntington National Bank lifted its stake in Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the last quarter. Finally, Primoris Wealth Advisors LLC lifted its stake in Franco-Nevada by 4.7% in the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 112 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. HC Wainwright upped their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $119.46 on Friday. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $137.60. The company’s 50-day moving average is $125.07 and its 200 day moving average is $123.49. The stock has a market capitalization of $23.00 billion, a P/E ratio of -37.80 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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). 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 for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the prior year, the firm earned $0.91 EPS. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.