MML Investors Services LLC Sells 252 Shares of Franco-Nevada Co. (NYSE:FNV)

MML Investors Services LLC lowered its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 7,910 shares of the basic materials company’s stock after selling 252 shares during the quarter. MML Investors Services LLC’s holdings in Franco-Nevada were worth $983,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&G PLC increased its stake in shares of 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 purchasing an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in 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 valued at $86,287,000 after buying an additional 706,919 shares in the last quarter. Horizon Kinetics Asset Management LLC raised its holdings in Franco-Nevada by 1.9% during 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 acquiring an additional 17,232 shares during the period. Telemark Asset Management LLC lifted its position in shares of Franco-Nevada by 66.7% during the third 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. Finally, Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on FNV shares. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. HC Wainwright raised their price objective on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, UBS Group initiated coverage on shares of Franco-Nevada in a research report on Monday, November 18th. They set a “buy” rating and a $160.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $152.83.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $115.16 on Friday. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The stock has a market cap of $22.17 billion, a P/E ratio of -36.44 and a beta of 0.72. The firm’s fifty day moving average price is $124.75 and its 200-day moving average price is $123.32.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter in the previous year, the business earned $0.91 EPS. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. On average, analysts predict that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.25%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -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.