Bradley Foster & Sargent Inc. CT Lowers Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Bradley Foster & Sargent Inc. CT lowered its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,604 shares of the basic materials company’s stock after selling 1,851 shares during the period. Bradley Foster & Sargent Inc. CT’s holdings in Franco-Nevada were worth $8,368,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Meixler Investment Management Ltd. lifted its position in shares of Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after acquiring an additional 101 shares during the period. Natixis Advisors LLC raised its holdings in Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock worth $2,272,000 after purchasing an additional 101 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in Franco-Nevada by 33.3% during the first quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 110 shares in the last quarter. Gulf International Bank UK Ltd boosted its position in Franco-Nevada by 6.9% during the first quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock worth $205,000 after purchasing an additional 111 shares in the last quarter. Finally, Primoris Wealth Advisors LLC grew its holdings in Franco-Nevada by 4.7% in the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock valued at $293,000 after purchasing an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Bank of America lifted their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research report on Friday, August 16th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Stock Down 0.3 %

Shares of NYSE:FNV opened at $124.56 on Wednesday. The business has a fifty day simple moving average of $123.53 and a 200-day simple moving average of $121.13. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $145.74. The company has a market cap of $23.97 billion, a P/E ratio of -50.02, a P/E/G ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter last year, the firm earned $0.95 EPS. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. Sell-side analysts expect that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 12th. Franco-Nevada’s dividend payout ratio is currently -57.83%.

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.