Axxcess Wealth Management LLC Has $3.69 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Axxcess Wealth Management LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,156 shares of the basic materials company’s stock after selling 1,010 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Franco-Nevada were worth $3,693,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Mechanics Financial Corp increased its holdings in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the period. Mather Group LLC. acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $36,000. Fortis Group Advisors LLC increased its stake in Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 176 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $124.56 on Wednesday. The stock’s fifty day moving average is $123.53 and its 200-day moving average is $121.13. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $145.74. The stock has a market capitalization of $23.97 billion, a PE ratio of -50.20, a PEG ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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). The company had revenue of $260.10 million during the quarter, compared to the consensus estimate of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company’s revenue was down 21.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, analysts forecast that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Bank of America lifted their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group boosted their price target on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research note on Friday, July 12th. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, Scotiabank upped their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

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.