Mayflower Financial Advisors LLC Has $768,000 Holdings in Franco-Nevada Co. (NYSE:FNV)

Mayflower Financial Advisors LLC lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 26.5% during the fourth quarter, Holdings Channel reports. The firm owned 6,530 shares of the basic materials company’s stock after selling 2,356 shares during the period. Mayflower Financial Advisors LLC’s holdings in Franco-Nevada were worth $768,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FNV. Covea Finance raised its stake in Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after buying an additional 2,700 shares during the last quarter. M&G PLC raised its position in shares of Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after acquiring an additional 51,996 shares in the last quarter. Telemark Asset Management LLC raised its position in shares of Franco-Nevada by 66.7% in the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after acquiring an additional 20,000 shares in the last quarter. Horizon Kinetics Asset Management LLC lifted its stake in shares of Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of 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 in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Trading Up 1.2 %

Shares of NYSE FNV opened at $130.79 on Wednesday. The company has a 50-day moving average price of $122.70 and a 200-day moving average price of $124.07. Franco-Nevada Co. has a 1 year low of $103.64 and a 1 year high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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). The company had revenue of $275.70 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.91 EPS. On average, research analysts anticipate that Franco-Nevada Co. will post 3.18 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. Franco-Nevada’s payout ratio is -45.57%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research note on Thursday, October 17th. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target for the company. Finally, Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $145.33.

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.