Clear Harbor Asset Management LLC Purchases 130 Shares of Franco-Nevada Co. (NYSE:FNV)

by · The Markets Daily

Clear Harbor Asset Management LLC lifted its holdings in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,961 shares of the basic materials company’s stock after purchasing an additional 130 shares during the period. Clear Harbor Asset Management LLC’s holdings in Franco-Nevada were worth $1,486,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tempus Wealth Planning LLC purchased a new position in shares of Franco-Nevada during the 1st quarter worth $472,000. Maryland State Retirement & Pension System lifted its position in Franco-Nevada by 52.6% during the first quarter. Maryland State Retirement & Pension System now owns 10,013 shares of the basic materials company’s stock valued at $1,191,000 after purchasing an additional 3,452 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Franco-Nevada by 15.0% during the first quarter. Principal Financial Group Inc. now owns 68,263 shares of the basic materials company’s stock valued at $8,142,000 after purchasing an additional 8,906 shares during the period. Privium Fund Management B.V. increased its position in Franco-Nevada by 16.6% in the first quarter. Privium Fund Management B.V. now owns 2,370 shares of the basic materials company’s stock worth $282,000 after buying an additional 337 shares in the last quarter. Finally, Private Advisor Group LLC raised its stake in shares of Franco-Nevada by 7.1% in the first quarter. Private Advisor Group LLC now owns 22,964 shares of the basic materials company’s stock worth $2,736,000 after buying an additional 1,518 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

NYSE FNV opened at $135.62 on Friday. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $137.52. The business has a 50 day simple moving average of $124.91 and a two-hundred day simple moving average of $123.29. The stock has a market capitalization of $26.11 billion, a PE ratio of -44.61, a P/E/G ratio of 22.67 and a beta of 0.76.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last posted its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $0.95 earnings per share. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada Co. will post 3.26 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Thursday, September 12th. Franco-Nevada’s payout ratio is -47.37%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FNV. Jefferies Financial Group cut their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Scotiabank boosted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $152.75.

Check Out Our Latest Stock Report on Franco-Nevada

Franco-Nevada Company Profile

(Free Report)

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.

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