Franco-Nevada Co. (NYSE:FNV) Holdings Cut by Cambridge Investment Research Advisors Inc.

Posted by Defense World Staff on Sep 30th, 2023

Cambridge Investment Research Advisors Inc. cut its stake in shares of Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 4.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,798 shares of the basic materials company’s stock after selling 883 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Franco-Nevada were worth $2,681,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in FNV. ClariVest Asset Management LLC lifted its stake in Franco-Nevada by 0.3% in the first quarter. ClariVest Asset Management LLC now owns 20,790 shares of the basic materials company’s stock valued at $3,028,000 after buying an additional 70 shares during the last quarter. Van Hulzen Asset Management LLC grew its position in Franco-Nevada by 2.5% in the 1st quarter. Van Hulzen Asset Management LLC now owns 3,020 shares of the basic materials company’s stock worth $440,000 after purchasing an additional 75 shares during the last quarter. IHT Wealth Management LLC grew its position in Franco-Nevada by 4.6% in the 4th quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 78 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Franco-Nevada by 5.3% in the 1st quarter. Vanguard Personalized Indexing Management LLC now owns 1,640 shares of the basic materials company’s stock worth $239,000 after purchasing an additional 83 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Franco-Nevada by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock valued at $626,000 after acquiring an additional 85 shares in the last quarter. 66.70% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

NYSE FNV opened at $133.49 on Friday. The company’s 50 day simple moving average is $140.61 and its 200 day simple moving average is $145.37. Franco-Nevada Co. has a 12 month low of $111.27 and a 12 month high of $161.25. The company has a market capitalization of $25.64 billion, a P/E ratio of 38.69, a PEG ratio of 9.70 and a beta of 0.72.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 8th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.12. The business had revenue of $329.90 million during the quarter, compared to analyst estimates of $324.06 million. Franco-Nevada had a return on equity of 10.20% and a net margin of 53.88%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $1.02 EPS. On average, analysts anticipate that Franco-Nevada Co. will post 3.4 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, September 13th. This represents a $1.36 annualized dividend and a yield of 1.02%. Franco-Nevada’s payout ratio is presently 39.42%.

Analyst Ratings Changes

FNV has been the topic of several recent analyst reports. Barclays cut their target price on Franco-Nevada from $127.00 to $126.00 in a research note on Friday, July 7th. StockNews.com assumed coverage on shares of Franco-Nevada in a research report on Thursday, August 17th. They issued a “hold” rating for the company. TD Securities decreased their target price on shares of Franco-Nevada from $190.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, August 10th. HC Wainwright increased their target price on shares of Franco-Nevada from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 10th. Finally, Stifel Nicolaus raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, August 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $178.00.

Read Our Latest Research Report on FNV

About Franco-Nevada

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.