Commonwealth Equity Services LLC Has $14.94 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Commonwealth Equity Services LLC cut its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 127,088 shares of the basic materials company's stock after selling 9,559 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Franco-Nevada worth $14,944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company's stock worth $159,530,000 after purchasing an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after buying an additional 537,047 shares during the period. Proficio Capital Partners LLC grew its holdings 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 buying an additional 478,602 shares in the last quarter. Bennbridge Ltd bought a new position in Franco-Nevada in the 4th quarter worth approximately $45,877,000. Finally, Two Sigma Advisers LP increased its position in Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock valued at $119,069,000 after acquiring an additional 359,900 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Franco-Nevada Trading Up 0.2 %

Shares of NYSE FNV traded up $0.32 during midday trading on Friday, reaching $155.85. The company's stock had a trading volume of 808,941 shares, compared to its average volume of 619,334. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $156.98. The company has a market cap of $30.01 billion, a price-to-earnings ratio of -49.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The company has a 50 day moving average price of $139.06 and a 200 day moving average price of $128.98.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm's revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. Research analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. Franco-Nevada's dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FNV. 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. Raymond James upped their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an "outperform" rating in a report on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research note on Tuesday, March 11th. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday. Finally, UBS Group increased their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" 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's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $153.63.

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.