FIL Ltd Sells 1,115,041 Shares of Franco-Nevada Co. (NYSE:FNV)

FIL Ltd lowered its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,106,186 shares of the basic materials company's stock after selling 1,115,041 shares during the quarter. Franco-Nevada accounts for 1.0% of FIL Ltd's investment portfolio, making the stock its 17th largest holding. FIL Ltd owned 4.73% of Franco-Nevada worth $1,070,219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of FNV. Cerity Partners LLC boosted its stake in shares of Franco-Nevada by 28.4% in the 3rd 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 during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada during the 3rd quarter valued at $52,000. Quantinno Capital Management LP raised its stake in shares of Franco-Nevada by 6.5% during the 3rd quarter. Quantinno Capital Management LP now owns 23,233 shares of the basic materials company's stock worth $2,887,000 after purchasing an additional 1,409 shares during the period. Stifel Financial Corp boosted its holdings in shares of Franco-Nevada by 60.0% in the 3rd quarter. Stifel Financial Corp now owns 40,012 shares of the basic materials company's stock worth $4,972,000 after buying an additional 15,008 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its position in Franco-Nevada by 8.7% during the third quarter. EP Wealth Advisors LLC now owns 2,183 shares of the basic materials company's stock valued at $271,000 after buying an additional 175 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Analysts Set New Price Targets

FNV has been the topic of a number of research analyst reports. Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. HC Wainwright boosted their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Scotiabank increased their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 2nd. Finally, UBS Group boosted their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $160.38.

Franco-Nevada Trading Up 5.5 %

Shares of NYSE FNV traded up $8.65 during midday trading on Friday, hitting $166.13. 2,125,418 shares of the company's stock were exchanged, compared to its average volume of 684,077. The business's fifty day moving average price is $147.54 and its two-hundred day moving average price is $132.76. The company has a market cap of $31.99 billion, a price-to-earnings ratio of -52.57, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $167.36.

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

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.91%. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is currently 53.15%.

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.