Fortune Financial Advisors LLC Raises Position in Franco-Nevada Co. (NYSE:FNV)

Fortune Financial Advisors LLC grew its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,870 shares of the basic materials company’s stock after buying an additional 577 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Franco-Nevada were worth $690,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Covea Finance boosted its stake in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares during the last quarter. M&G PLC lifted its holdings in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares in the last quarter. Telemark Asset Management LLC boosted its position in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after buying an additional 20,000 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FNV. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Scotiabank reduced their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada Stock Up 4.0 %

Shares of Franco-Nevada stock opened at $136.30 on Friday. The stock’s fifty day moving average is $123.15 and its 200 day moving average is $124.20. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $137.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. On average, equities analysts expect that Franco-Nevada Co. will post 3.19 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were issued 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, 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.