Connor Clark & Lunn Investment Management Ltd. Sells 106,800 Shares of Franco-Nevada Co. (NYSE:FNV)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 572,116 shares of the basic materials company's stock after selling 106,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.30% of Franco-Nevada worth $67,145,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FNV. Plato Investment Management Ltd acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $1,850,000. Huntington National Bank raised its stake in Franco-Nevada by 7.4% during the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock worth $185,000 after acquiring an additional 102 shares in the last quarter. Aubrey Capital Management Ltd lifted its holdings in shares of Franco-Nevada by 26.6% in the third quarter. Aubrey Capital Management Ltd now owns 9,253 shares of the basic materials company's stock worth $1,149,000 after acquiring an additional 1,942 shares during the last quarter. Metis Global Partners LLC boosted its stake in shares of Franco-Nevada by 22.7% in the 3rd quarter. Metis Global Partners LLC now owns 15,153 shares of the basic materials company's stock valued at $1,882,000 after purchasing an additional 2,807 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Franco-Nevada by 6.5% during the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company's stock valued at $2,535,000 after purchasing an additional 1,237 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of analysts have weighed in on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Raymond James raised their price objective on Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. UBS Group boosted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Finally, Scotiabank boosted their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $153.63.

Franco-Nevada Stock Up 2.2 %

Franco-Nevada stock traded up $3.32 during mid-day trading on Friday, hitting $153.45. 1,148,051 shares of the stock were exchanged, compared to its average volume of 617,813. The firm's fifty day simple moving average is $136.67 and its two-hundred day simple moving average is $128.12. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $153.84. The stock has a market capitalization of $29.55 billion, a price-to-earnings ratio of -48.56, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. During the same quarter last year, the firm earned $0.90 earnings per share. Franco-Nevada's quarterly revenue was up 5.8% on a year-over-year basis. As a group, analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.99%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

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.