NFJ Investment Group LLC Acquires Shares of 53,938 Franco-Nevada Co. (NYSE:FNV)

NFJ Investment Group LLC acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 53,938 shares of the basic materials company’s stock, valued at approximately $6,702,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Mechanics Financial Corp lifted its holdings in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $36,000. Sunbelt Securities Inc. lifted its stake in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 400 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new position in Franco-Nevada in the third quarter valued at approximately $55,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FNV shares. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. UBS Group began coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Bank of America cut 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 report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.83.

Franco-Nevada Price Performance

NYSE FNV opened at $122.61 on Wednesday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The business’s 50-day moving average price is $125.67 and its 200 day moving average price is $123.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 analysts’ expectations of $279.11 million. During the same quarter last year, the business posted $0.91 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.17%. Franco-Nevada’s dividend payout ratio is currently -45.57%.

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.