Pekin Hardy Strauss Inc. Sells 505 Shares of Franco-Nevada Co. (NYSE:FNV)

Pekin Hardy Strauss Inc. lessened its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,730 shares of the basic materials company’s stock after selling 505 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Franco-Nevada were worth $1,582,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Graham Capital Wealth Management LLC lifted its holdings in shares of Franco-Nevada by 0.4% during the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company’s stock worth $2,511,000 after buying an additional 86 shares during the last quarter. Meixler Investment Management Ltd. raised its stake in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after purchasing an additional 101 shares during the last quarter. Natixis Advisors LLC boosted its holdings in Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after purchasing an additional 101 shares during the period. Huntington National Bank grew its position in Franco-Nevada by 7.4% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the last quarter. Finally, Primoris Wealth Advisors LLC increased its holdings in shares of Franco-Nevada by 4.7% during the 2nd quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after purchasing an additional 112 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $123.69 on Friday. The company has a market capitalization of $23.81 billion, a PE ratio of -39.14, a P/E/G ratio of 20.79 and a beta of 0.75. The company’s fifty day moving average is $126.10 and its 200-day moving average is $123.87. 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 issued 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 10.55% and a negative net margin of 55.28%. The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same period in the prior year, the company posted $0.91 earnings per share. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.16%. Franco-Nevada’s dividend payout ratio is -45.57%.

Analyst Ratings Changes

Several research firms recently weighed in on FNV. UBS Group initiated coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 target price for the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank reduced their target price on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Finally, TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.86.

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.