Capital Asset Advisory Services LLC Acquires 2,758 Shares of Franco-Nevada Co. (NYSE:FNV)

Capital Asset Advisory Services LLC lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.4% during the 1st quarter, Holdings Channel reports. The firm owned 32,166 shares of the basic materials company’s stock after purchasing an additional 2,758 shares during the period. Capital Asset Advisory Services LLC’s holdings in Franco-Nevada were worth $3,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FNV. Scotia Capital Inc. lifted its holdings in shares of Franco-Nevada by 27.1% during the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock worth $16,474,000 after acquiring an additional 31,796 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Franco-Nevada by 108.1% in the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock valued at $50,671,000 after purchasing an additional 236,503 shares in the last quarter. Alberta Investment Management Corp increased its stake in shares of Franco-Nevada by 2.3% in the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock valued at $49,825,000 after purchasing an additional 10,250 shares during the last quarter. Bornite Capital Management LP acquired a new position in shares of Franco-Nevada during the 4th quarter worth $8,167,000. Finally, Mackenzie Financial Corp lifted its position in shares of Franco-Nevada by 15.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after buying an additional 198,144 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 1.4 %

FNV traded down $1.70 during midday trading on Friday, hitting $118.52. 388,317 shares of the company were exchanged, compared to its average volume of 695,714. The firm has a market capitalization of $22.80 billion, a P/E ratio of -47.60, a P/E/G ratio of 26.64 and a beta of 0.77. The firm’s 50 day moving average price is $121.89 and its 200-day moving average price is $115.22. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $149.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, sell-side analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were 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 of this dividend was Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. HC Wainwright boosted their target price on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America raised their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday. Raymond James increased their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Scotiabank boosted their price objective on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $149.30.

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.