Essex Financial Services Inc. Sells 1,221 Shares of Franco-Nevada Co. (NYSE:FNV)

Essex Financial Services Inc. lessened its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,779 shares of the basic materials company’s stock after selling 1,221 shares during the quarter. Essex Financial Services Inc.’s holdings in Franco-Nevada were worth $1,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. VisionPoint Advisory Group LLC bought a new stake in shares of Franco-Nevada in the 3rd quarter worth $30,000. Castleview Partners LLC purchased a new position in shares of Franco-Nevada in the 3rd quarter worth about $33,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Franco-Nevada in the 4th quarter worth about $34,000. FinTrust Capital Advisors LLC boosted its holdings in shares of Franco-Nevada by 209.0% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock worth $41,000 after buying an additional 209 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in shares of Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after buying an additional 345 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 1.2 %

Shares of Franco-Nevada stock opened at $121.90 on Thursday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The company has a market cap of $23.44 billion, a price-to-earnings ratio of -50.16, a PEG ratio of 6.14 and a beta of 0.72. The company’s 50-day moving average price is $116.13 and its 200-day moving average price is $115.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The firm had revenue of $303.30 million for the quarter. On average, sell-side analysts predict that Franco-Nevada Co. will post 2.97 earnings per share for the current year.

Wall Street Analyst Weigh In

FNV has been the topic of a number of research analyst reports. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America dropped their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank upped their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Jefferies Financial Group upped their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, Raymond James upped their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $148.60.

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.