Malaga Cove Capital LLC Makes New $208,000 Investment in Franco-Nevada Co. (NYSE:FNV)

Malaga Cove Capital LLC acquired a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,676 shares of the basic materials company’s stock, valued at approximately $208,000.

Several other hedge funds also recently made changes to their positions in the business. Mechanics Financial Corp boosted its holdings in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after buying an additional 150 shares in the last quarter. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada during the 2nd quarter worth $36,000. Sunbelt Securities Inc. grew its holdings in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in shares of Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FNV shares. Scotiabank increased their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $154.57.

Franco-Nevada Trading Down 4.4 %

Shares of NYSE:FNV opened at $126.37 on Friday. The business has a fifty day simple moving average of $126.65 and a 200 day simple moving average of $124.10. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $137.60. The firm has a market cap of $24.32 billion, a price-to-earnings ratio of -41.57, a P/E/G ratio of 22.08 and a beta of 0.75.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.25 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. Franco-Nevada’s dividend payout ratio is currently -47.37%.

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.