Quadrant Capital Group LLC Decreases Holdings in Franco-Nevada Co. (NYSE:FNV)

Posted by on Jun 7th, 2023

Quadrant Capital Group LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) by 42.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 410 shares of the basic materials company’s stock after selling 305 shares during the quarter. Quadrant Capital Group LLC’s holdings in Franco-Nevada were worth $56,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Cumberland Partners Ltd purchased a new stake in shares of Franco-Nevada during the 4th quarter valued at $27,000. James Investment Research Inc. purchased a new stake in Franco-Nevada in the 4th quarter worth about $28,000. Guardian Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 3rd quarter worth about $25,000. Western Pacific Wealth Management LP purchased a new stake in Franco-Nevada in the 4th quarter worth about $35,000. Finally, Penserra Capital Management LLC purchased a new stake in Franco-Nevada in the 1st quarter worth about $47,000. 66.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent research reports. StockNews.com began coverage on Franco-Nevada in a report on Thursday, May 18th. They issued a “hold” rating for the company. HC Wainwright lifted their target price on Franco-Nevada from $145.00 to $180.00 in a report on Thursday, May 4th. Barclays lifted their target price on Franco-Nevada from $115.00 to $127.00 and gave the company an “underweight” rating in a report on Friday, April 21st. Raymond James lifted their target price on Franco-Nevada from $163.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, May 3rd. Finally, CIBC lifted their target price on Franco-Nevada from C$230.00 to C$240.00 in a report on Tuesday, February 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $174.29.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $147.88 on Wednesday. Franco-Nevada Co. has a fifty-two week low of $109.70 and a fifty-two week high of $161.25. The stock has a 50 day moving average price of $152.46 and a two-hundred day moving average price of $144.00. The company has a market capitalization of $28.39 billion, a P/E ratio of 42.13, a PEG ratio of 10.31 and a beta of 0.72.

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last posted its earnings results on Tuesday, May 2nd. The basic materials company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.02. Franco-Nevada had a return on equity of 10.58% and a net margin of 53.87%. The firm had revenue of $276.30 million for the quarter, compared to analysts’ expectations of $302.62 million. During the same period in the previous year, the firm earned $0.93 earnings per share. The business’s revenue was down 18.4% compared to the same quarter last year. As a group, equities analysts predict that Franco-Nevada Co. will post 3.58 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 15th will be paid a $0.34 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $1.36 annualized dividend and a yield of 0.92%. Franco-Nevada’s payout ratio is 38.75%.

Franco-Nevada Company Profile

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Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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