27,632 Shares in Franco-Nevada Co. (NYSE:FNV) Purchased by Tri Ri Asset Management Corp

Tri Ri Asset Management Corp acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 27,632 shares of the basic materials company’s stock, valued at approximately $3,433,000. Franco-Nevada makes up 1.8% of Tri Ri Asset Management Corp’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNV. Wilmington Savings Fund Society FSB purchased a new stake in Franco-Nevada in the 3rd quarter valued at about $326,000. Toronto Dominion Bank grew its holdings in Franco-Nevada by 39.7% in the 3rd quarter. Toronto Dominion Bank now owns 537,572 shares of the basic materials company’s stock valued at $66,793,000 after buying an additional 152,680 shares during the period. Geode Capital Management LLC grew its holdings in Franco-Nevada by 6.9% in the 3rd quarter. Geode Capital Management LLC now owns 839,903 shares of the basic materials company’s stock valued at $104,068,000 after buying an additional 54,329 shares during the period. Adalta Capital Management LLC grew its holdings in Franco-Nevada by 8.2% in the 3rd quarter. Adalta Capital Management LLC now owns 10,539 shares of the basic materials company’s stock valued at $1,309,000 after buying an additional 799 shares during the period. Finally, Barclays PLC grew its holdings in Franco-Nevada by 29.4% in the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock valued at $4,450,000 after buying an additional 8,147 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 2.2 %

Shares of FNV opened at $121.66 on Friday. The business’s 50 day moving average is $125.10 and its two-hundred day moving average is $123.52. Franco-Nevada Co. has a 52-week low of $103.33 and a 52-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 (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was down 10.9% on a year-over-year basis. Equities analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

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 issued a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FNV. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. HC Wainwright lifted 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. UBS Group began coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $152.83.

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.