Franco-Nevada Co. (NYSE:FNV) Holdings Cut by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,156 shares of the basic materials company’s stock after selling 1,010 shares during the period. Axxcess Wealth Management LLC’s holdings in Franco-Nevada were worth $3,693,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FNV. Mechanics Financial Corp grew its stake in Franco-Nevada by 150.0% in the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada in the second quarter worth approximately $36,000. Fortis Group Advisors LLC raised its position in Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 176 shares in the last quarter. 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 acquiring an additional 119 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 0.3 %

Shares of NYSE:FNV opened at $124.56 on Wednesday. The business has a 50 day moving average price of $123.53 and a 200 day moving average price of $121.13. The company has a market cap of $23.97 billion, a price-to-earnings ratio of -50.20, a PEG ratio of 20.59 and a beta of 0.76. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $145.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. During the same period in the prior year, the company posted $0.95 earnings per share. The firm’s revenue was down 21.2% compared to the same quarter last year. Analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. Franco-Nevada’s payout ratio is -57.83%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several analyst reports. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Scotiabank raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Bank of America upped their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. Finally, Jefferies Financial Group boosted their target price on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

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.