Axxcess Wealth Management LLC Buys 109 Shares of Franco-Nevada Co. (NYSE:FNV)

Axxcess Wealth Management LLC raised its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 29,408 shares of the basic materials company’s stock after acquiring an additional 109 shares during the period. Axxcess Wealth Management LLC’s holdings in Franco-Nevada were worth $3,259,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FNV. Wahed Invest LLC lifted its stake in shares of Franco-Nevada by 7.7% in the 3rd quarter. Wahed Invest LLC now owns 1,377 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 99 shares during the period. J.P. Morgan Private Wealth Advisors LLC lifted its stake in shares of Franco-Nevada by 6.2% in the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 104 shares during the period. Capital Asset Advisory Services LLC lifted its stake in shares of Franco-Nevada by 0.4% in the 4th quarter. Capital Asset Advisory Services LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after purchasing an additional 109 shares during the period. Blossom Wealth Management lifted its stake in shares of Franco-Nevada by 5.0% in the 4th quarter. Blossom Wealth Management now owns 2,535 shares of the basic materials company’s stock worth $281,000 after purchasing an additional 120 shares during the period. Finally, Moors & Cabot Inc. lifted its stake in shares of Franco-Nevada by 0.4% in the 3rd quarter. Moors & Cabot Inc. now owns 45,442 shares of the basic materials company’s stock worth $6,066,000 after purchasing an additional 167 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FNV. Raymond James increased their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Scotiabank increased their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday, April 18th. Jefferies Financial Group increased their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, Bank of America cut their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has an average rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Price Performance

Shares of NYSE FNV traded up $2.34 during midday trading on Friday, reaching $123.25. 683,906 shares of the stock traded hands, compared to its average volume of 689,409. The stock has a market capitalization of $23.70 billion, a PE ratio of -49.50, a P/E/G ratio of 6.29 and a beta of 0.72. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $161.25. The company’s 50 day moving average is $116.74 and its 200 day moving average is $115.09.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $256.80 million during the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. As a group, equities analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Franco-Nevada’s dividend payout ratio is presently -54.62%.

About Franco-Nevada

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.