Creekmur Asset Management LLC Lowers Position in Franco-Nevada Co. (NYSE:FNV)

by · The Markets Daily

Creekmur Asset Management LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 68.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 500 shares of the basic materials company’s stock after selling 1,091 shares during the quarter. Creekmur Asset Management LLC’s holdings in Franco-Nevada were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of FNV. Mechanics Financial Corp boosted its holdings 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. purchased a new position in Franco-Nevada in the second quarter valued at $33,000. Kings Path Partners LLC acquired a new position in Franco-Nevada during the 2nd quarter worth $36,000. Sunbelt Securities Inc. increased its holdings 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 worth $49,000 after purchasing an additional 400 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in Franco-Nevada by 33.3% in the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 110 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FNV. HC Wainwright restated a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a research note on Friday, August 16th. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Jefferies Financial Group dropped their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Finally, Scotiabank raised their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a research note on Monday, August 19th. Five 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 has a consensus rating of “Moderate Buy” and a consensus price target of $152.75.

Read Our Latest Analysis on FNV

Franco-Nevada Stock Up 0.1 %

Shares of NYSE FNV opened at $137.25 on Wednesday. The stock has a market cap of $26.41 billion, a PE ratio of -55.11, a price-to-earnings-growth ratio of 22.67 and a beta of 0.76. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The business has a 50-day moving average price of $125.41 and a 200 day moving average price of $123.54.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. Sell-side analysts anticipate that Franco-Nevada Co. will post 3.26 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Franco-Nevada Company Profile

(Free Report)

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.

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