Franco-Nevada Co. (NYSE:FNV) Shares Sold by TIAA Trust National Association

TIAA Trust National Association trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,755 shares of the basic materials company’s stock after selling 145 shares during the quarter. TIAA Trust National Association’s holdings in Franco-Nevada were worth $209,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Franco-Nevada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after purchasing an additional 129,876 shares during the last quarter. Intech Investment Management LLC acquired a new position in Franco-Nevada in the 1st quarter valued at about $1,658,000. M&G Plc acquired a new position in Franco-Nevada in the 1st quarter valued at about $219,971,000. Anthracite Investment Company Inc. boosted its holdings in Franco-Nevada by 23.3% in the 1st quarter. Anthracite Investment Company Inc. now owns 18,500 shares of the basic materials company’s stock valued at $2,204,000 after purchasing an additional 3,500 shares during the last quarter. Finally, Twin Tree Management LP raised its stake in shares of Franco-Nevada by 91.5% in the 1st quarter. Twin Tree Management LP now owns 240,189 shares of the basic materials company’s stock valued at $28,621,000 after acquiring an additional 114,760 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. HC Wainwright upped their target price on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research note on Friday, July 12th. Scotiabank upped their target price on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Bank of America upped their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Hold” and an average price target of $152.33.

Franco-Nevada Trading Down 0.6 %

NYSE FNV traded down $0.70 on Monday, hitting $123.87. 182,876 shares of the stock were exchanged, compared to its average volume of 672,825. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $148.74. The company has a 50-day moving average price of $122.34 and a 200-day moving average price of $116.85.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results 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 negative net margin of 39.88% and a positive return on equity of 10.81%. The business had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the prior year, the business posted $0.79 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, research analysts expect that Franco-Nevada Co. will post 3.27 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, June 13th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, June 13th. Franco-Nevada’s dividend payout ratio is currently -57.83%.

Franco-Nevada 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.