Huntington National Bank Has $185,000 Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Huntington National Bank lifted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.4% in the third quarter, Holdings Channel.com reports. The fund owned 1,486 shares of the basic materials company’s stock after acquiring an additional 102 shares during the quarter. Huntington National Bank’s holdings in Franco-Nevada were worth $185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in Franco-Nevada during the 2nd quarter worth approximately $276,446,000. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 68.1% during the first quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company’s stock worth $328,972,000 after buying an additional 1,117,523 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after buying an additional 706,919 shares during the period. Victory Capital Management Inc. boosted its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Franco-Nevada during the 1st quarter worth about $47,681,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 1.1 %

Shares of FNV opened at $113.95 on Monday. The stock has a market cap of $21.93 billion, a P/E ratio of -36.06, a P/E/G ratio of 19.22 and a beta of 0.75. The business’s fifty day moving average is $126.21 and its 200 day moving average is $123.96. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same period last year, the business posted $0.91 earnings per share. On average, analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, December 5th. Franco-Nevada’s dividend payout ratio is currently -45.57%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FNV shares. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and dropped their price target for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research report on Thursday, August 22nd. Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company 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.