Icon Wealth Advisors LLC Purchases New Holdings in Franco-Nevada Co. (NYSE:FNV)

Icon Wealth Advisors LLC bought a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,271 shares of the basic materials company’s stock, valued at approximately $158,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. M&G PLC lifted its stake in Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after purchasing an additional 51,996 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after purchasing an additional 706,919 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 13.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Franco-Nevada by 44.4% in the first quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock worth $7,576,000 after purchasing an additional 19,551 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Franco-Nevada by 4.1% in the second quarter. Dimensional Fund Advisors LP now owns 155,836 shares of the basic materials company’s stock worth $18,472,000 after acquiring an additional 6,202 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent analyst reports. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Scotiabank reduced their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.86.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $123.69 on Monday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The firm has a market capitalization of $23.81 billion, a P/E ratio of -39.14, a P/E/G ratio of 20.79 and a beta of 0.75. The stock has a 50 day moving average price of $126.10 and a 200 day moving average price of $123.85.

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 analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the prior year, the business posted $0.91 earnings per share. The company’s revenue was down 10.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.