Oxbow Advisors LLC Increases Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Oxbow Advisors LLC boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,862 shares of the basic materials company’s stock after acquiring an additional 510 shares during the period. Oxbow Advisors LLC’s holdings in Franco-Nevada were worth $2,095,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings 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 purchasing an additional 64,429 shares during the period. Van ECK Associates Corp raised its holdings in shares of Franco-Nevada by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after acquiring an additional 151,566 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Franco-Nevada by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock valued at $878,696,000 after acquiring an additional 129,876 shares during the last quarter. Capital World Investors grew its holdings in shares of Franco-Nevada by 2.7% during the first quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after purchasing an additional 120,367 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of 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 last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on FNV shares. HC Wainwright lifted their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the company a “buy” rating in a research report on Friday. Bank of America cut Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $156.57.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $3.97 during trading hours on Friday, reaching $122.44. The stock had a trading volume of 877,398 shares, compared to its average volume of 630,356. The company has a fifty day simple moving average of $126.66 and a 200-day simple moving average of $124.13. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. The business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. During the same quarter last year, the business posted $0.91 EPS. The company’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, equities analysts expect that Franco-Nevada Co. will post 3.25 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.18%. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Franco-Nevada 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.