Caisse DE Depot ET Placement DU Quebec Trims Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Caisse DE Depot ET Placement DU Quebec lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 16.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 208,311 shares of the basic materials company’s stock after selling 42,415 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in Franco-Nevada were worth $25,902,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Mechanics Financial Corp lifted its holdings in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada during the second quarter valued at about $33,000. Kings Path Partners LLC purchased a new stake in shares of Franco-Nevada in the second quarter worth about $36,000. Sunbelt Securities Inc. boosted its position in shares of Franco-Nevada by 3,333.3% in the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares during the period. Finally, Ridgewood Investments LLC purchased a new position in Franco-Nevada during the second quarter valued at approximately $68,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE:FNV opened at $122.62 on Monday. The company has a market capitalization of $23.60 billion, a price-to-earnings ratio of -38.80, a PEG ratio of 20.72 and a beta of 0.75. The business has a 50 day moving average of $125.77 and a 200 day moving average of $123.71. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data 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). The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same period last year, the company posted $0.91 EPS. As a group, sell-side analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analysts Set New Price Targets

FNV has been the topic of several recent analyst reports. HC Wainwright increased their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Scotiabank dropped their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Finally, TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Company 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.