UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 170,227 shares of the basic materials company’s stock after selling 14,341 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.09% of Franco-Nevada worth $21,151,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of FNV. M&G PLC boosted its stake in Franco-Nevada by 3.2% in the third quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock worth $208,645,000 after buying an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock worth $86,287,000 after acquiring an additional 706,919 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted 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 in the last quarter. Victory Capital Management Inc. grew its holdings 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 during the last quarter. Finally, Telemark Asset Management LLC raised its position in 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 purchasing an additional 20,000 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on FNV shares. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. UBS Group started coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $152.83.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $123.53 on Friday. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $137.60. The company’s 50-day moving average is $125.30 and its 200 day moving average is $123.62. The stock has a market capitalization of $23.78 billion, a P/E ratio of -39.09 and a beta of 0.72.

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). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. During the same period in the prior year, the company posted $0.91 EPS. The firm’s revenue was down 10.9% on a year-over-year basis. Research analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

About Franco-Nevada

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.