Ashford Capital Management Inc. Has $20.66 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Ashford Capital Management Inc. decreased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 166,304 shares of the basic materials company’s stock after selling 3,260 shares during the period. Franco-Nevada comprises 2.6% of Ashford Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Ashford Capital Management Inc. owned about 0.09% of Franco-Nevada worth $20,663,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNV. Massachusetts Financial Services Co. MA grew its stake in shares of Franco-Nevada by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock valued at $1,456,208,000 after purchasing an additional 64,429 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after acquiring an additional 151,566 shares during the period. Victory Capital Management Inc. boosted its holdings in Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. lifted its position in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the period. Finally, First Eagle Investment Management LLC boosted its stake in shares of Franco-Nevada by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after purchasing an additional 47,311 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on FNV shares. UBS Group initiated coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 target price for the company. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $122.16 on Tuesday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The business’s 50 day simple moving average is $125.16 and its 200 day simple moving average is $123.53. The firm has a market cap of $23.51 billion, a PE ratio of -38.66 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 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 the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.91 EPS. As a group, equities research analysts predict that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

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.