Corundum Trust Company INC Acquires Shares of 2,000 Franco-Nevada Co. (NYSE:FNV)

Corundum Trust Company INC acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the third quarter, HoldingsChannel.com reports. The fund acquired 2,000 shares of the basic materials company’s stock, valued at approximately $248,000.

A number of other large investors also recently modified their holdings of FNV. Blossom Wealth Management grew its holdings in shares of Franco-Nevada by 5.2% during the third quarter. Blossom Wealth Management now owns 2,745 shares of the basic materials company’s stock worth $341,000 after purchasing an additional 135 shares during the last quarter. U S Global Investors Inc. grew its holdings in shares of Franco-Nevada by 6.0% during the third quarter. U S Global Investors Inc. now owns 91,692 shares of the basic materials company’s stock worth $11,393,000 after purchasing an additional 5,208 shares during the last quarter. Carrhae Capital LLP grew its holdings in shares of Franco-Nevada by 66.3% during the third quarter. Carrhae Capital LLP now owns 224,084 shares of the basic materials company’s stock worth $27,842,000 after purchasing an additional 89,368 shares during the last quarter. Stegent Equity Advisors Inc. purchased a new position in shares of Franco-Nevada during the third quarter worth about $304,000. Finally, Atlas Wealth Partners LLC purchased a new position in shares of Franco-Nevada during the third quarter worth about $3,183,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Scotiabank lifted their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

Franco-Nevada Price Performance

Shares of FNV opened at $135.95 on Wednesday. The firm has a 50 day simple moving average of $123.93 and a 200-day simple moving average of $122.99. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $140.38. The stock has a market cap of $26.16 billion, a price-to-earnings ratio of -54.60, a price-to-earnings-growth ratio of 20.13 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million for the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. During the same period last year, the business earned $0.95 earnings per share. On average, equities analysts expect that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were paid a $0.36 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.06%. Franco-Nevada’s payout ratio is currently -57.83%.

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.