Franco-Nevada Co. (NYSE:FNV) Shares Bought by XTX Topco Ltd

XTX Topco Ltd grew its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,691 shares of the basic materials company’s stock after buying an additional 356 shares during the quarter. XTX Topco Ltd’s holdings in Franco-Nevada were worth $459,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. DF Dent & Co. Inc. grew its stake in shares of Franco-Nevada by 42.1% in the third quarter. DF Dent & Co. Inc. now owns 23,210 shares of the basic materials company’s stock valued at $2,884,000 after buying an additional 6,875 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Franco-Nevada by 2.2% in the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after buying an additional 29,512 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Franco-Nevada by 8.7% in the third quarter. EP Wealth Advisors LLC now owns 2,183 shares of the basic materials company’s stock valued at $271,000 after buying an additional 175 shares in 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 valued at $411,003,000 after buying an additional 537,047 shares in the last quarter. Finally, Wahed Invest LLC boosted its holdings in Franco-Nevada by 13.5% in the third quarter. Wahed Invest LLC now owns 2,564 shares of the basic materials company’s stock valued at $319,000 after purchasing an additional 305 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on FNV. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Scotiabank decreased their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $152.83.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $119.46 on Friday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The company has a market capitalization of $23.00 billion, a P/E ratio of -37.80 and a beta of 0.72. The stock has a 50-day simple moving average of $125.07 and a 200-day simple moving average of $123.49.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 analysts’ expectations of $279.11 million. During the same period in the previous year, the firm posted $0.91 earnings per share. The firm’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, analysts forecast that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.21%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.