Carrhae Capital LLP Cuts Holdings in Franco-Nevada Co. (NYSE:FNV)

Carrhae Capital LLP reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 7.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,418 shares of the basic materials company's stock after selling 17,666 shares during the quarter. Franco-Nevada comprises approximately 2.0% of Carrhae Capital LLP's holdings, making the stock its 14th largest position. Carrhae Capital LLP owned about 0.11% of Franco-Nevada worth $24,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. Natixis Advisors LLC increased its holdings in Franco-Nevada by 6.5% in the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company's stock valued at $2,535,000 after acquiring an additional 1,237 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Franco-Nevada by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company's stock valued at $50,623,000 after purchasing an additional 19,589 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Franco-Nevada by 33.1% in the third quarter. Citigroup Inc. now owns 36,710 shares of the basic materials company's stock worth $4,565,000 after purchasing an additional 9,119 shares during the last quarter. Icon Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the third quarter worth about $158,000. Finally, Cerity Partners LLC lifted its position in shares of Franco-Nevada by 28.4% in the third quarter. Cerity Partners LLC now owns 3,581 shares of the basic materials company's stock worth $445,000 after buying an additional 791 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

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Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $1.88 on Friday, hitting $155.36. 737,278 shares of the company's stock were exchanged, compared to its average volume of 658,606. The business's 50 day simple moving average is $142.60 and its two-hundred day simple moving average is $130.54. The stock has a market capitalization of $29.92 billion, a price-to-earnings ratio of -49.16, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $159.38.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 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 up 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 EPS. Equities analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 13th. Franco-Nevada's dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

A number of analysts have issued reports on FNV shares. UBS Group lifted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Royal Bank of Canada boosted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Raymond James increased their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Scotiabank upped their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.50.

Franco-Nevada Company 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.