Y Intercept Hong Kong Ltd Makes New $601,000 Investment in Franco-Nevada Co. (NYSE:FNV)

Y Intercept Hong Kong Ltd acquired a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the third quarter, HoldingsChannel reports. The institutional investor acquired 4,841 shares of the basic materials company’s stock, valued at approximately $601,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNV. Perfromance Wealth Partners LLC purchased a new stake in Franco-Nevada in the second quarter worth about $363,000. Walter Public Investments Inc. purchased a new stake in shares of Franco-Nevada during the second quarter valued at approximately $11,247,000. Chevy Chase Trust Holdings LLC grew its holdings in shares of Franco-Nevada by 1.9% during the second quarter. Chevy Chase Trust Holdings LLC now owns 626,753 shares of the basic materials company’s stock valued at $74,283,000 after buying an additional 11,884 shares during the last quarter. Tevis Investment Management grew its holdings in shares of Franco-Nevada by 1.7% during the second quarter. Tevis Investment Management now owns 9,117 shares of the basic materials company’s stock valued at $1,081,000 after buying an additional 154 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. grew its holdings in shares of Franco-Nevada by 1.9% during the second quarter. Schwartz Investment Counsel Inc. now owns 106,200 shares of the basic materials company’s stock valued at $12,587,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.8 %

Shares of Franco-Nevada stock opened at $119.46 on Friday. The company has a market cap of $23.00 billion, a price-to-earnings ratio of -37.80 and a beta of 0.72. The company’s 50 day moving average is $125.07 and its 200 day moving average is $123.49. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same quarter in the previous year, the business posted $0.91 earnings per share. The firm’s revenue was down 10.9% on a year-over-year basis. Sell-side analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on FNV shares. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. HC Wainwright increased their price target on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a report on Friday, November 8th. Bank of America cut shares of 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. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. 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 on the stock. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $152.83.

Franco-Nevada Company 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.