McCollum Christoferson Group LLC Grows Holdings in Franco-Nevada Co. (NYSE:FNV)

McCollum Christoferson Group LLC grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,656 shares of the basic materials company’s stock after buying an additional 705 shares during the quarter. McCollum Christoferson Group LLC’s holdings in Franco-Nevada were worth $4,306,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FNV. Mechanics Financial Corp grew its stake in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada during the 2nd quarter valued at $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada in the second quarter worth about $36,000. Sunbelt Securities Inc. increased its position in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 119 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE FNV opened at $125.42 on Thursday. The stock has a market capitalization of $24.13 billion, a price-to-earnings ratio of -50.37, a PEG ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $142.60. The business’s fifty day moving average price is $123.16 and its 200-day moving average price is $122.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same period in the previous year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts anticipate that Franco-Nevada Co. will post 3.26 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.15%. Franco-Nevada’s payout ratio is presently -57.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FNV shares. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Scotiabank upped their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $152.88.

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.