McCollum Christoferson Group LLC Buys 705 Shares of Franco-Nevada Co. (NYSE:FNV)

McCollum Christoferson Group LLC lifted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,656 shares of the basic materials company’s stock after purchasing an additional 705 shares during the quarter. McCollum Christoferson Group LLC’s holdings in Franco-Nevada were worth $4,306,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp raised its stake in Franco-Nevada by 150.0% during 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 worth about $33,000. Kings Path Partners LLC purchased a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. lifted 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 valued at $49,000 after acquiring an additional 400 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position 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 worth $52,000 after acquiring an additional 119 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FNV. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Scotiabank increased their price target 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 lowered shares of Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, HC Wainwright reaffirmed a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research note on Friday, August 16th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.88.

Franco-Nevada Price Performance

FNV stock opened at $125.42 on Thursday. The company has a market capitalization of $24.13 billion, a PE ratio of -50.37, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $142.60. The firm’s 50-day moving average is $123.16 and its 200 day moving average is $122.66.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results 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 company had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. During the same period in the prior year, the firm posted $0.95 EPS. The business’s revenue was down 21.2% on a year-over-year basis. Sell-side analysts forecast that Franco-Nevada Co. will post 3.26 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s dividend payout ratio is -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.