6,825 Shares in Franco-Nevada Corporation $FNV Bought by Banque Pictet & Cie SA

Key Points

• Banque Pictet & Cie SA acquired 6,825 Franco-Nevada shares worth approximately $1.63 million in the third quarter. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada’s latest quarterly results missed analyst expectations, with earnings of $1.81 per share versus $1.95 expected and revenue of $580.9 million versus $616.66 million forecast, although revenue increased 57.3% year over year.
• The company pays a quarterly dividend of $0.44 per share, or $1.76 annually, representing a 0.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $267.80.

Banque Pictet & Cie SA bought a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 6,825 shares of the basic materials company's stock, valued at approximately $1,629,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FNV. Silicon Valley Capital Partners bought a new stake in shares of Franco-Nevada during the second quarter valued at approximately $31,000. Ascentis Independent Advisors purchased a new stake in Franco-Nevada in the first quarter worth $39,000. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada in the second quarter worth $33,000. Global Retirement Partners LLC bought a new position in Franco-Nevada in the second quarter worth $35,000. Finally, Dunhill Financial LLC bought a new position in Franco-Nevada in the second quarter worth $36,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $243.63 on Friday. The company has a 50 day simple moving average of $253.34 and a two-hundred day simple moving average of $236.33. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67. The company has a market capitalization of $46.99 billion, a price-to-earnings ratio of 31.85, a P/E/G ratio of 2.24 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The company had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The business's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, analysts forecast that Franco-Nevada Corporation will post 7.47 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada's payout ratio is presently 23.01%.

Analyst Ratings Changes

Several equities analysts have commented on FNV shares. Jefferies Financial Group lowered their price objective on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating for the company in a research report on Monday, July 6th. Scotiabank reduced their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Zacks Research raised shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded shares of Franco-Nevada from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, UBS Group decreased their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Nine investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation NYSE: FNV is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.

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