Drive Wealth Management LLC Buys 356 Shares of Franco-Nevada Co. (NYSE:FNV)

Drive Wealth Management LLC boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,355 shares of the basic materials company’s stock after buying an additional 356 shares during the quarter. Drive Wealth Management LLC’s holdings in Franco-Nevada were worth $417,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter worth $276,446,000. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 68.1% in the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after acquiring an additional 1,117,523 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after acquiring an additional 706,919 shares in the last quarter. Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% during the 3rd 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 period. Finally, National Bank of Canada FI raised its holdings in shares of Franco-Nevada by 25.4% in the 2nd quarter. National Bank of Canada FI now owns 1,351,218 shares of the basic materials company’s stock valued at $159,178,000 after purchasing an additional 274,069 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 3.9 %

NYSE:FNV opened at $118.45 on Tuesday. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60. The company has a market cap of $22.80 billion, a PE ratio of -37.48, a P/E/G ratio of 19.22 and a beta of 0.75. The company’s 50 day moving average is $126.17 and its two-hundred day moving average is $123.94.

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 negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same period in the previous year, the company earned $0.91 earnings per share. Franco-Nevada’s revenue was down 10.9% on a year-over-year basis. As a group, analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is -45.57%.

Wall Street Analyst Weigh In

FNV has been the topic of several research reports. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, UBS Group began coverage on shares of Franco-Nevada in a report on Monday. They issued a “buy” rating and a $160.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.00.

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.