Chevy Chase Trust Holdings LLC Sells 35,984 Shares of Franco-Nevada Co. (NYSE:FNV)

Chevy Chase Trust Holdings LLC lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 590,769 shares of the basic materials company’s stock after selling 35,984 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Franco-Nevada were worth $73,403,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Franco-Nevada in the 2nd quarter worth approximately $33,000. QV Investors Inc. lifted its holdings in shares of Franco-Nevada by 24.6% in the 2nd quarter. QV Investors Inc. now owns 249,909 shares of the basic materials company’s stock worth $29,624,000 after acquiring an additional 49,308 shares during the last quarter. ORG Partners LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter worth approximately $79,000. Addenda Capital Inc. boosted its stake in shares of Franco-Nevada by 85.7% in the 2nd quarter. Addenda Capital Inc. now owns 104,369 shares of the basic materials company’s stock valued at $12,370,000 after purchasing an additional 48,160 shares in the last quarter. Finally, Clear Harbor Asset Management LLC grew its holdings in shares of Franco-Nevada by 1.2% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,831 shares of the basic materials company’s stock valued at $1,402,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.5 %

Shares of FNV stock opened at $122.00 on Monday. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of -38.80, a PEG ratio of 20.72 and a beta of 0.75. The stock has a fifty day moving average of $125.77 and a 200 day moving average of $123.71. Franco-Nevada Co. has a 52 week low of $102.29 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 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 company had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the previous year, the firm posted $0.91 EPS. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. Equities research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FNV. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group decreased their price target 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. UBS Group started coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average price target of $152.83.

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.