Pekin Hardy Strauss Inc. Has $1.58 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Pekin Hardy Strauss Inc. decreased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,730 shares of the basic materials company’s stock after selling 505 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Franco-Nevada were worth $1,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of FNV. Mechanics Financial Corp boosted its holdings in shares of Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares during the period. Mather Group LLC. purchased a new position in Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new stake in Franco-Nevada during the 2nd quarter valued at $36,000. Sunbelt Securities Inc. lifted its holdings in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC acquired a new stake in shares of Franco-Nevada in the second quarter worth $68,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.4 %

FNV stock opened at $123.69 on Friday. The firm has a market cap of $23.81 billion, a PE ratio of -39.14, a PEG ratio of 20.79 and a beta of 0.75. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $137.60. The company has a fifty day simple moving average of $126.10 and a 200 day simple moving average of $123.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS. As a group, analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.16%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analyst Upgrades and Downgrades

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

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.