Commonwealth Equity Services LLC Has $16.31 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Commonwealth Equity Services LLC increased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,619 shares of the basic materials company’s stock after acquiring an additional 1,978 shares during the period. Commonwealth Equity Services LLC owned about 0.07% of Franco-Nevada worth $16,311,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FNV. International Assets Investment Management LLC bought a new stake in Franco-Nevada in the fourth quarter valued at $3,447,000. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Franco-Nevada in the 4th quarter worth about $209,000. Metis Global Partners LLC increased its position in shares of Franco-Nevada by 11.9% during the 4th quarter. Metis Global Partners LLC now owns 11,958 shares of the basic materials company’s stock worth $1,325,000 after purchasing an additional 1,274 shares in the last quarter. Canoe Financial LP lifted its holdings in Franco-Nevada by 2.1% during the 4th quarter. Canoe Financial LP now owns 264,307 shares of the basic materials company’s stock valued at $29,276,000 after purchasing an additional 5,438 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Franco-Nevada by 2,053.0% in the fourth quarter. BNP Paribas Financial Markets now owns 94,947 shares of the basic materials company’s stock valued at $10,521,000 after buying an additional 90,537 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 2.6 %

Shares of FNV stock opened at $119.02 on Wednesday. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of -47.80, a PEG ratio of 20.73 and a beta of 0.74. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $145.82. The stock has a 50-day moving average price of $123.36 and a 200 day moving average price of $120.19.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued 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). The business had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. Sell-side analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Thursday, September 12th. Franco-Nevada’s payout ratio is -57.83%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on FNV shares. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America increased their target price on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Jefferies Financial Group increased their price objective on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

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.