Drive Wealth Management LLC Grows Holdings in Franco-Nevada Co. (NYSE:FNV)

Drive Wealth Management LLC raised its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,355 shares of the basic materials company’s stock after purchasing an additional 356 shares during the quarter. Drive Wealth Management LLC’s holdings in Franco-Nevada were worth $417,000 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 position in shares of Franco-Nevada by 150.0% during the second 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. purchased a new stake in Franco-Nevada during the 2nd quarter valued at approximately $33,000. Kings Path Partners LLC bought a new stake in shares of Franco-Nevada during the second quarter valued at approximately $36,000. Sunbelt Securities Inc. raised its position in shares of Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after buying an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in shares of Franco-Nevada by 33.3% in the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 110 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV opened at $118.45 on Tuesday. The firm has a market capitalization of $22.80 billion, a PE ratio of -37.48, a PEG ratio of 19.22 and a beta of 0.75. The stock’s fifty day moving average is $126.17 and its 200 day moving average is $123.94. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue was down 10.9% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm 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 dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. Franco-Nevada’s dividend payout ratio is -45.57%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. 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 note on Friday, November 8th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, HC Wainwright raised their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $157.00.

About Franco-Nevada

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.