Klein Pavlis & Peasley Financial Inc. Reduces Holdings in Franco-Nevada Co. (NYSE:FNV)

Klein Pavlis & Peasley Financial Inc. lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,014 shares of the basic materials company’s stock after selling 244 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Franco-Nevada were worth $1,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of Franco-Nevada by 0.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after buying an additional 64,429 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Franco-Nevada by 1.8% in the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock worth $1,022,452,000 after buying an additional 151,566 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Franco-Nevada by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after buying an additional 129,876 shares during the last quarter. Capital World Investors increased its stake in shares of Franco-Nevada by 2.7% in the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after buying an additional 120,367 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its holdings in Franco-Nevada by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock worth $386,597,000 after purchasing an additional 47,311 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.1 %

Shares of NYSE FNV opened at $135.62 on Monday. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $137.52. The firm’s 50-day simple moving average is $124.91 and its 200 day simple moving average is $123.31. The stock has a market cap of $26.10 billion, a P/E ratio of -54.47, a P/E/G ratio of 22.67 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). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company had revenue of $260.10 million for the quarter, compared to the consensus estimate of $277.44 million. During the same quarter in the prior year, the firm earned $0.95 earnings per share. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on FNV shares. HC Wainwright reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a report on Friday, August 16th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

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.