Cannell & Spears LLC cut its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,209 shares of the basic materials company's stock after selling 85,051 shares during the period. Cannell & Spears LLC owned 0.09% of Franco-Nevada worth $19,545,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Franco-Nevada during the fourth quarter valued at $237,643,000. Arrowstreet Capital Limited Partnership grew its position in Franco-Nevada by 246.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock valued at $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Proficio Capital Partners LLC raised its position in Franco-Nevada by 11,659.0% in the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after purchasing an additional 478,602 shares during the period. Finally, Bennbridge Ltd purchased a new stake in Franco-Nevada during the fourth quarter valued at about $45,877,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on the stock. HC Wainwright raised their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Raymond James lifted their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a research report on Tuesday, March 11th. UBS Group increased their price objective on Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a report on Tuesday, March 11th. Finally, Royal Bank of Canada increased 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 note on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average price target of $155.50.
View Our Latest Research Report on FNV
Franco-Nevada Stock Performance
Shares of NYSE FNV traded down $9.34 during midday trading on Friday, hitting $149.38. 718,553 shares of the company's stock traded hands, compared to its average volume of 751,972. The firm has a fifty day moving average of $144.90 and a 200 day moving average of $131.43. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $161.36. The stock has a market capitalization of $28.76 billion, a price-to-earnings ratio of -47.29, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. On average, equities analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.
Franco-Nevada Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.02%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is 53.15%.
About Franco-Nevada
(
Free Report)
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.
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