PDT Partners LLC Takes Position in Franco-Nevada Co. (NYSE:FNV)

PDT Partners LLC purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,534 shares of the basic materials company’s stock, valued at approximately $1,309,000.

Other large investors have also recently made changes to their positions in the company. Mechanics Financial Corp raised its stake in shares of Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Mather Group LLC. bought a new position in Franco-Nevada in the second quarter worth approximately $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada during the second quarter worth $36,000. Sunbelt Securities Inc. boosted its position in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares in the last quarter. Finally, Ridgewood Investments LLC purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $68,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 0.3 %

Franco-Nevada stock opened at $122.62 on Monday. The company has a fifty day simple moving average of $125.77 and a 200-day simple moving average of $123.71. The firm has a market capitalization of $23.60 billion, a price-to-earnings ratio of -38.80, a PEG ratio of 20.72 and a beta of 0.75. 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 released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.91 EPS. On average, research analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FNV shares. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. UBS Group assumed coverage on Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 price objective on the stock. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $152.83.

About Franco-Nevada

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.