Mayflower Financial Advisors LLC boosted its stake in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 3.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,829 shares of the basic materials company's stock after buying an additional 317 shares during the period. Mayflower Financial Advisors LLC's holdings in Franco-Nevada were worth $1,293,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prospera Financial Services Inc bought a new position in shares of Franco-Nevada during the 1st quarter valued at about $42,000. Rational Advisors LLC boosted its position in shares of Franco-Nevada by 60.6% during the 1st quarter. Rational Advisors LLC now owns 273 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 103 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of Franco-Nevada during the 1st quarter valued at about $47,000. BerganKDV Wealth Management LLC boosted its position in shares of Franco-Nevada by 105.6% during the 1st quarter. BerganKDV Wealth Management LLC now owns 370 shares of the basic materials company's stock valued at $59,000 after purchasing an additional 190 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in shares of Franco-Nevada during the 1st quarter valued at about $75,000. Institutional investors own 66.64% of the company's stock.
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Wall Street Analyst Weigh In
Several research firms have recently weighed in on FNV. KeyCorp reduced their price objective on shares of Franco-Nevada from $180.00 to $143.00 and set an "overweight" rating for the company in a research report on Monday, July 18th. TD Securities reduced their price objective on shares of Franco-Nevada from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, August 12th. Barclays lowered shares of Franco-Nevada from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $130.00 to $112.00 in a research note on Tuesday, July 19th. National Bank Financial reduced their price objective on shares of Franco-Nevada from C$225.00 to C$205.00 in a research note on Thursday, July 21st. Finally, Raymond James reduced their price objective on shares of Franco-Nevada from $176.00 to $175.00 and set an "outperform" rating for the company in a research note on Friday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of "Hold" and an average price target of $169.38.
Franco-Nevada Stock Performance
Shares of NYSE FNV traded down $4.08 during mid-day trading on Friday, reaching $114.13. The company had a trading volume of 797,501 shares, compared to its average volume of 652,966. The stock has a fifty day moving average of $125.74 and a two-hundred day moving average of $140.40. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 28.27, a PEG ratio of 8.26 and a beta of 0.64. Franco-Nevada Co. has a 12-month low of $112.75 and a 12-month high of $169.32.
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last posted its quarterly earnings results on Wednesday, August 10th. The basic materials company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.06. The business had revenue of $352.30 million during the quarter, compared to analyst estimates of $348.83 million. Franco-Nevada had a net margin of 57.33% and a return on equity of 11.57%. The firm's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts forecast that Franco-Nevada Co. will post 3.6 earnings per share for the current fiscal year.
Franco-Nevada Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Thursday, September 15th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.12%. The ex-dividend date is Wednesday, September 14th. Franco-Nevada's payout ratio is presently 32.00%.
Franco-Nevada Company Profile
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Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, the United States, Canada, and internationally. It operates in two segments, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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