Metis Global Partners LLC Purchases 2,807 Shares of Franco-Nevada Co. (NYSE:FNV)

Metis Global Partners LLC increased its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,153 shares of the basic materials company’s stock after purchasing an additional 2,807 shares during the period. Metis Global Partners LLC’s holdings in Franco-Nevada were worth $1,882,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of FNV. Mechanics Financial Corp lifted its stake in Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after acquiring an additional 150 shares during the period. Mather Group LLC. bought a new position in Franco-Nevada during the 2nd quarter valued at about $33,000. Kings Path Partners LLC bought a new position in Franco-Nevada during the 2nd quarter valued at about $36,000. Sunbelt Securities Inc. lifted its stake in Franco-Nevada by 3,333.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock valued at $49,000 after acquiring an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. lifted its stake in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 110 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $113.94 on Friday. The stock has a market capitalization of $21.93 billion, a PE ratio of -36.06, a price-to-earnings-growth ratio of 19.11 and a beta of 0.75. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $137.60. The business has a 50 day simple moving average of $126.21 and a 200-day simple moving average of $123.92.

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

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FNV. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Scotiabank lowered 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. Bank of America downgraded Franco-Nevada from a “buy” rating to a “neutral” rating and lowered their target price for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. StockNews.com upgraded Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Finally, Jefferies Financial Group lowered their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.57.

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.