Blossom Wealth Management Raises Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

by · The Cerbat Gem

Blossom Wealth Management boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 5.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,745 shares of the basic materials company’s stock after buying an additional 135 shares during the quarter. Blossom Wealth Management’s holdings in Franco-Nevada were worth $341,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in FNV. Allspring Global Investments Holdings LLC acquired a new stake in Franco-Nevada in the 2nd quarter valued at approximately $276,446,000. M&G Plc purchased a new stake in shares of Franco-Nevada in the 1st quarter valued at $219,971,000. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 68.1% during the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after acquiring an additional 1,117,523 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Franco-Nevada by 3,404.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after acquiring an additional 706,919 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Franco-Nevada in the 1st quarter valued at about $47,681,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FNV shares. HC Wainwright reissued a “buy” rating and set a $185.00 price target on shares of Franco-Nevada in a research report on Friday, August 16th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Scotiabank upped their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Five research 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 an average rating of “Moderate Buy” and a consensus price target of $152.75.

View Our Latest Report on Franco-Nevada

Franco-Nevada Trading Up 2.4 %

Shares of NYSE FNV opened at $135.95 on Wednesday. The stock has a market cap of $26.16 billion, a P/E ratio of -54.60, a P/E/G ratio of 20.13 and a beta of 0.76. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $140.38. The stock has a 50 day moving average of $123.93 and a two-hundred day moving average of $122.99.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.06%. Franco-Nevada’s payout ratio is currently -57.83%.

Franco-Nevada 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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