Tectonic Advisors LLC Increases Stake in Franco-Nevada Co. (NYSE:FNV)

Tectonic Advisors LLC raised its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 24.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,448 shares of the basic materials company’s stock after buying an additional 1,282 shares during the quarter. Tectonic Advisors LLC’s holdings in Franco-Nevada were worth $758,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares during the last quarter. M&G PLC increased its holdings in shares of Franco-Nevada by 3.2% during the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after acquiring an additional 51,996 shares in the last quarter. National Bank of Canada FI raised its position in shares of Franco-Nevada by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock worth $171,513,000 after purchasing an additional 29,512 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after purchasing an additional 556,894 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

FNV opened at $141.82 on Thursday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $142.32. The stock has a market cap of $27.31 billion, a price-to-earnings ratio of -44.88, a price-to-earnings-growth ratio of 6.12 and a beta of 0.74. The firm’s fifty day moving average is $124.41 and its 200 day moving average is $124.49.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the prior year, the business posted $0.91 EPS. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. On average, equities research analysts predict that Franco-Nevada Co. will post 3.19 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is -48.10%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $145.33.

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.