Fortune Financial Advisors LLC Acquires 228 Shares of Franco-Nevada Co. (NYSE:FNV)

Fortune Financial Advisors LLC raised its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.5% in the third quarter, Holdings Channel.com reports. The fund owned 5,293 shares of the basic materials company’s stock after acquiring an additional 228 shares during the quarter. Fortune Financial Advisors LLC’s holdings in Franco-Nevada were worth $658,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA lifted its stake in shares of Franco-Nevada by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. Van ECK Associates Corp raised its holdings in Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after buying an additional 151,566 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Franco-Nevada by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after buying an additional 129,876 shares during the last quarter. Capital World Investors boosted its stake in shares of Franco-Nevada by 2.7% during the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after acquiring an additional 120,367 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after acquiring an additional 47,311 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FNV shares. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Finally, Scotiabank lifted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Trading Down 0.1 %

FNV opened at $135.62 on Friday. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.52. The stock has a market capitalization of $26.11 billion, a PE ratio of -44.61, a PEG ratio of 22.67 and a beta of 0.76. The firm has a 50-day moving average price of $124.91 and a two-hundred day moving average price of $123.29.

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

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently -47.37%.

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.