Victory Capital Management Inc. Boosts Holdings in Franco-Nevada Co. (NYSE:FNV)

Victory Capital Management Inc. raised its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 13.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,489,240 shares of the basic materials company’s stock after acquiring an additional 424,810 shares during the period. Victory Capital Management Inc.’s holdings in Franco-Nevada were worth $433,538,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% during 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 Franco-Nevada in the second quarter valued at about $33,000. Kings Path Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. boosted its stake in shares of Franco-Nevada by 3,333.3% during the second 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 last quarter. Finally, Hillsdale Investment Management Inc. grew its position in shares of 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 period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Bank of America lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. Finally, Scotiabank decreased their price objective on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.57.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $3.65 during mid-day trading on Tuesday, reaching $114.18. 353,938 shares of the company traded hands, compared to its average volume of 657,360. The company’s 50 day moving average price is $126.57 and its 200-day moving average price is $124.18. The firm has a market cap of $21.98 billion, a PE ratio of -37.29, a PEG ratio of 20.59 and a beta of 0.75. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.63% 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 quarter in the prior year, the company posted $0.91 earnings per share. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, research analysts predict that Franco-Nevada Co. will post 3.25 earnings per share for the current fiscal 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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

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.