Montrusco Bolton Investments Inc. Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Montrusco Bolton Investments Inc. cut its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 63.0% during the third quarter, HoldingsChannel reports. The fund owned 166,406 shares of the basic materials company’s stock after selling 283,618 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Franco-Nevada were worth $20,691,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FNV. Mechanics Financial Corp increased its holdings in shares of Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $36,000. Sunbelt Securities Inc. increased its holdings in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $68,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of several research analyst reports. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. HC Wainwright boosted their target price on Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. UBS Group initiated coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 target price on the stock. Jefferies Financial Group dropped their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. Finally, Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $148.86.

Franco-Nevada Stock Up 0.3 %

Shares of FNV opened at $123.63 on Friday. The stock has a 50-day moving average of $126.13 and a two-hundred day moving average of $123.90. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data 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). The company had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.91 EPS. On average, equities analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

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