Inspire Advisors LLC Sells 459 Shares of Franco-Nevada Co. (NYSE:FNV)

Inspire Advisors LLC lowered its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,764 shares of the basic materials company’s stock after selling 459 shares during the quarter. Inspire Advisors LLC’s holdings in Franco-Nevada were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FNV. McCollum Christoferson Group LLC increased its position in Franco-Nevada by 2.1% in the 3rd quarter. McCollum Christoferson Group LLC now owns 34,656 shares of the basic materials company’s stock valued at $4,306,000 after buying an additional 705 shares in the last quarter. Creative Planning increased its holdings in shares of Franco-Nevada by 3.4% during the third quarter. Creative Planning now owns 12,456 shares of the basic materials company’s stock valued at $1,548,000 after acquiring an additional 409 shares in the last quarter. Annex Advisory Services LLC raised its position in shares of Franco-Nevada by 9.0% during the third quarter. Annex Advisory Services LLC now owns 127,857 shares of the basic materials company’s stock worth $15,886,000 after purchasing an additional 10,544 shares during the period. Covea Finance acquired a new position in shares of Franco-Nevada during the third quarter worth approximately $12,256,000. Finally, Sanders Morris Harris LLC bought a new position in shares of Franco-Nevada in the 3rd quarter worth $200,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 3.9 %

FNV stock opened at $132.13 on Friday. The stock has a market cap of $25.43 billion, a P/E ratio of -53.06, a P/E/G ratio of 20.13 and a beta of 0.76. The stock’s fifty day simple moving average is $123.53 and its two-hundred day simple moving average is $122.77. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $140.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results 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). The company had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. As a group, analysts forecast that Franco-Nevada Co. will post 3.26 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were paid a $0.36 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.09%. Franco-Nevada’s payout ratio is -57.83%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. HC Wainwright reissued a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. Finally, Scotiabank lifted their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $152.75.

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.