Pekin Hardy Strauss Inc. Decreases Holdings in Franco-Nevada Co. (NYSE:FNV)

Pekin Hardy Strauss Inc. lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 23.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,235 shares of the basic materials company’s stock after selling 3,975 shares during the period. Pekin Hardy Strauss Inc.’s holdings in Franco-Nevada were worth $1,569,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FNV. Meixler Investment Management Ltd. boosted its position in Franco-Nevada by 0.5% during the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock worth $2,543,000 after purchasing an additional 101 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Franco-Nevada by 0.5% in the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after acquiring an additional 101 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 110 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Franco-Nevada by 6.9% in the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock valued at $205,000 after purchasing an additional 111 shares during the last quarter. Finally, Primoris Wealth Advisors LLC increased its stake in Franco-Nevada by 4.7% in the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 112 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Jefferies Financial Group upped their target price on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research note on Friday, July 12th. Scotiabank upped their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $124.97 on Tuesday. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $145.74. The business has a 50-day moving average of $123.49 and a 200-day moving average of $120.99. The company has a market capitalization of $24.05 billion, a price-to-earnings ratio of -50.19, a PEG ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). The company had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s quarterly revenue was down 21.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. Research analysts expect that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s dividend payout ratio is currently -57.83%.

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.