BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Franco-Nevada Co. (NYSE:FNV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 76.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,284,575 shares of the basic materials company’s stock after purchasing an additional 556,894 shares during the quarter. Franco-Nevada makes up approximately 1.0% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings, making the stock its 21st largest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Franco-Nevada were worth $159,530,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Graham Capital Wealth Management LLC raised its holdings in Franco-Nevada by 0.4% in the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock valued at $2,511,000 after acquiring an additional 86 shares in the last quarter. Meixler Investment Management Ltd. raised its stake 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 valued at $2,543,000 after buying an additional 101 shares in the last quarter. Natixis Advisors LLC raised its position in shares of Franco-Nevada by 0.5% during the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after acquiring an additional 101 shares in the last quarter. Huntington National Bank lifted its stake in Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock valued at $185,000 after buying an additional 102 shares during the last quarter. Finally, Primoris Wealth Advisors LLC grew its holdings in Franco-Nevada by 4.7% during the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after acquiring an additional 112 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. 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 report on Thursday, October 17th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.86.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $122.63 on Friday. The stock has a market capitalization of $23.61 billion, a price-to-earnings ratio of -38.81, a price-to-earnings-growth ratio of 20.78 and a beta of 0.75. The business’s fifty day moving average price is $125.77 and its two-hundred day moving average price is $123.73. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. Research analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. 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.