Horizon Kinetics Asset Management LLC Buys 17,232 Shares of Franco-Nevada Co. (NYSE:FNV)

Horizon Kinetics Asset Management LLC raised its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 935,834 shares of the basic materials company’s stock after acquiring an additional 17,232 shares during the quarter. Franco-Nevada makes up 1.7% of Horizon Kinetics Asset Management LLC’s portfolio, making the stock its 7th largest holding. Horizon Kinetics Asset Management LLC’s holdings in Franco-Nevada were worth $116,277,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Graham Capital Wealth Management LLC lifted its holdings in Franco-Nevada by 0.4% during the 2nd quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after purchasing an additional 86 shares during the last quarter. Meixler Investment Management Ltd. grew its position in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after acquiring an additional 101 shares during the last quarter. Natixis Advisors LLC increased its holdings in Franco-Nevada by 0.5% during the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after purchasing an additional 101 shares in the last quarter. Huntington National Bank increased its holdings in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after purchasing an additional 102 shares in the last quarter. Finally, Primoris Wealth Advisors LLC raised its position in Franco-Nevada by 4.7% in the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 112 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. 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 report on Thursday, October 17th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.86.

Franco-Nevada Stock Down 1.5 %

Shares of FNV stock opened at $121.78 on Monday. The firm’s 50 day moving average price is $126.10 and its two-hundred day moving average price is $123.85. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the prior year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company 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 $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. Franco-Nevada’s dividend payout ratio is -45.57%.

Franco-Nevada 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.