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

Northwest & Ethical Investments L.P. lowered its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 131,884 shares of the basic materials company’s stock after selling 4,651 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Franco-Nevada were worth $16,382,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Mechanics Financial Corp increased its holdings in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its position in shares of Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC bought a new position in Franco-Nevada during the second quarter worth $68,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Bank of America downgraded 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 research note on Tuesday, October 1st. HC Wainwright upped their target price on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Canaccord Genuity Group raised 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’s stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.86.

Franco-Nevada Stock Performance

Shares of FNV traded up $0.36 during mid-day trading on Thursday, reaching $122.93. 335,016 shares of the company’s stock traded hands, compared to its average volume of 667,527. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $137.60. The stock has a market capitalization of $23.66 billion, a P/E ratio of -39.00, a price-to-earnings-growth ratio of 20.38 and a beta of 0.75. The business’s 50-day moving average price is $125.97 and its 200-day moving average price is $123.77.

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 analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s revenue was down 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.91 EPS. Equities research analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.17%. Franco-Nevada’s payout ratio is -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.