Stegent Equity Advisors Inc. Invests $304,000 in Franco-Nevada Co. (NYSE:FNV)

Stegent Equity Advisors Inc. purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,443 shares of the basic materials company’s stock, valued at approximately $304,000.

Several other hedge funds have also added to or reduced their stakes in the company. Atlas Wealth Partners LLC bought a new position in Franco-Nevada during the 3rd quarter worth $3,183,000. Raymond James & Associates increased its position in Franco-Nevada by 2.6% during the third quarter. Raymond James & Associates now owns 187,263 shares of the basic materials company’s stock worth $23,267,000 after acquiring an additional 4,768 shares during the period. Blue Trust Inc. increased its position in Franco-Nevada by 797.2% during the third quarter. Blue Trust Inc. now owns 1,947 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 1,730 shares during the period. McCollum Christoferson Group LLC raised its stake in Franco-Nevada by 2.1% in the 3rd quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company’s stock worth $4,306,000 after purchasing an additional 705 shares in the last quarter. Finally, Creative Planning boosted its holdings in Franco-Nevada by 3.4% in the 3rd quarter. Creative Planning now owns 12,456 shares of the basic materials company’s stock valued at $1,548,000 after purchasing an additional 409 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FNV. Jefferies Financial Group dropped 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. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Trading Up 3.9 %

NYSE FNV traded up $4.95 during trading on Friday, hitting $132.13. 606,780 shares of the company’s stock were exchanged, compared to its average volume of 649,736. The company has a market cap of $25.43 billion, a PE ratio of -53.06, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $140.40. The stock’s 50 day moving average price is $123.53 and its two-hundred day moving average price is $122.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company had revenue of $260.10 million for the quarter, compared to analyst estimates of $277.44 million. During the same quarter in the prior year, the company earned $0.95 earnings per share. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. Analysts forecast that Franco-Nevada Co. will post 3.26 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, September 26th. Stockholders of record on Thursday, September 12th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s payout ratio is -57.83%.

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.