Franco-Nevada Co. (NYSE:FNV) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 9,244 shares of the basic materials company’s stock after selling 632 shares during the period. Moran Wealth Management LLC’s holdings in Franco-Nevada were worth $1,149,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Franco-Nevada by 0.5% in the second 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 period. Van ECK Associates Corp raised its position in Franco-Nevada by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after buying an additional 151,566 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares during the period. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock worth $386,597,000 after acquiring an additional 47,311 shares during the period. Finally, EdgePoint Investment Group Inc. lifted its position in Franco-Nevada by 0.5% in the second quarter. EdgePoint Investment Group Inc. now owns 2,772,446 shares of the basic materials company’s stock valued at $328,751,000 after purchasing an additional 12,769 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FNV shares. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday. HC Wainwright raised their target price on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday. They issued a “buy” rating and a $160.00 target price for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $148.86.

Franco-Nevada Trading Up 1.5 %

Franco-Nevada stock opened at $123.23 on Friday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60. The stock has a market cap of $23.72 billion, a PE ratio of -39.00, a P/E/G ratio of 20.46 and a beta of 0.75. The stock has a 50-day moving average price of $126.13 and a 200 day moving average price of $123.90.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 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 firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue was down 10.9% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

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.