Birch Capital Management LLC Purchases 298 Shares of Franco-Nevada Co. (NYSE:FNV)

Birch Capital Management LLC lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,085 shares of the basic materials company’s stock after purchasing an additional 298 shares during the quarter. Birch Capital Management LLC’s holdings in Franco-Nevada were worth $128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of FNV. Confluence Investment Management LLC lifted its position in shares of Franco-Nevada by 8.7% during the 4th quarter. Confluence Investment Management LLC now owns 5,790 shares of the basic materials company’s stock worth $681,000 after purchasing an additional 465 shares during the last quarter. Franklin Resources Inc. grew its position in Franco-Nevada by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company’s stock worth $9,957,000 after purchasing an additional 6,052 shares during the last quarter. Tri Ri Asset Management Corp bought a new position in shares of Franco-Nevada during the 3rd quarter worth about $3,433,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Franco-Nevada during the third quarter valued at about $326,000. Finally, Toronto Dominion Bank lifted its stake in shares of Franco-Nevada by 39.7% in the third 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. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of NYSE FNV traded up $2.47 during mid-day trading on Tuesday, hitting $123.19. 343,115 shares of the stock traded hands, compared to its average volume of 551,730. The firm has a 50 day simple moving average of $121.88 and a two-hundred day simple moving average of $123.39. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $137.60. The company has a market cap of $23.71 billion, a PE ratio of -38.98 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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 firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’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 company posted $0.91 earnings per share. On average, equities research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is currently -45.57%.

Analysts Set New Price Targets

A number of research firms have weighed in on FNV. Scotiabank decreased their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. HC Wainwright dropped their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research report on Friday, December 20th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group assumed coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. 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.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $145.33.

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.