Caisse DE Depot ET Placement DU Quebec Has $25.90 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Caisse DE Depot ET Placement DU Quebec reduced its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 16.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 208,311 shares of the basic materials company’s stock after selling 42,415 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned about 0.11% of Franco-Nevada worth $25,902,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in FNV. Mechanics Financial Corp increased its holdings 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 valued at $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new stake in Franco-Nevada during the 2nd quarter valued at $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada during the second quarter worth $36,000. Sunbelt Securities Inc. lifted its stake in shares of Franco-Nevada by 3,333.3% in 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 in the last quarter. Finally, Ridgewood Investments LLC acquired a new position in shares of Franco-Nevada during the second quarter valued at about $68,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright raised their price objective on Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Stock Performance

NYSE FNV opened at $122.62 on Monday. The company has a market capitalization of $23.60 billion, a PE ratio of -38.80, a price-to-earnings-growth ratio of 20.72 and a beta of 0.75. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The company has a 50-day simple moving average of $125.77 and a 200 day simple moving average of $123.71.

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

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given 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 1.17%. Franco-Nevada’s dividend payout ratio is presently -45.57%.

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.