Mad River Investors Has $3.86 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Mad River Investors reduced its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,402 shares of the basic materials company’s stock after selling 599 shares during the period. Franco-Nevada accounts for approximately 2.7% of Mad River Investors’ holdings, making the stock its 8th largest holding. Mad River Investors’ holdings in Franco-Nevada were worth $3,861,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. VisionPoint Advisory Group LLC acquired a new position in Franco-Nevada in the third quarter valued at about $30,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Franco-Nevada in the 4th quarter valued at approximately $34,000. Allworth Financial LP increased its stake in Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares in the last quarter. Fortis Group Advisors LLC raised its holdings in Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after buying an additional 176 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after buying an additional 119 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNV has been the topic of several research reports. HC Wainwright boosted their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Raymond James upped their price objective on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Bank of America lifted their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group lifted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Finally, Scotiabank boosted their price objective on shares of 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 analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $149.30.

Franco-Nevada Trading Up 2.8 %

Shares of Franco-Nevada stock traded up $3.39 during trading on Thursday, hitting $122.68. 355,678 shares of the stock were exchanged, compared to its average volume of 665,409. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $149.06. The stock has a market capitalization of $23.60 billion, a price-to-earnings ratio of -49.27, a price-to-earnings-growth ratio of 22.43 and a beta of 0.74. The company has a fifty day moving average price of $121.89 and a 200-day moving average price of $115.57.

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

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Franco-Nevada’s dividend payout ratio (DPR) is -57.83%.

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.