International Assets Investment Management LLC Takes $3.45 Million Position in Franco-Nevada Co. (NYSE:FNV)

International Assets Investment Management LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the fourth quarter, Holdings Channel.com reports. The firm acquired 31,107 shares of the basic materials company’s stock, valued at approximately $3,447,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Franco-Nevada by 5.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 12,883 shares of the basic materials company’s stock worth $1,720,000 after purchasing an additional 718 shares during the period. Advisor Partners II LLC increased its holdings in shares of Franco-Nevada by 16.8% in the 3rd quarter. Advisor Partners II LLC now owns 2,237 shares of the basic materials company’s stock worth $299,000 after buying an additional 322 shares during the last quarter. TIAA Trust National Association bought a new stake in shares of Franco-Nevada during the 3rd quarter worth $252,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in Franco-Nevada by 10.6% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 558,895 shares of the basic materials company’s stock worth $74,821,000 after acquiring an additional 53,419 shares in the last quarter. Finally, Watershed Asset Management L.L.C. bought a new position in Franco-Nevada in the third quarter valued at $1,442,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 0.8 %

FNV opened at $127.38 on Friday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $160.86. The stock has a fifty day simple moving average of $118.42 and a two-hundred day simple moving average of $114.91. The company has a market cap of $24.50 billion, a price-to-earnings ratio of -51.16, a price-to-earnings-growth ratio of 6.29 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm had revenue of $256.80 million for the quarter, compared to the consensus estimate of $250.50 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The business’s revenue was down 7.1% on a year-over-year basis. On average, analysts predict that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Scotiabank upped their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Jefferies Financial Group lifted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Bank of America decreased their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Finally, Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Company 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.