Franco-Nevada Co. (NYSE:FNV) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC reduced its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 295,560 shares of the basic materials company's stock after selling 28,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.15% of Franco-Nevada worth $34,742,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Franco-Nevada during the 4th quarter worth approximately $237,643,000. Arrowstreet Capital Limited Partnership grew its position in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after purchasing an additional 828,166 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock valued at $56,762,000 after purchasing an additional 478,602 shares during the period. Bennbridge Ltd purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at about $45,877,000. Finally, Geode Capital Management LLC boosted its stake in shares of Franco-Nevada by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 1,101,854 shares of the basic materials company's stock worth $129,870,000 after buying an additional 261,951 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

FNV stock traded down $1.44 on Friday, reaching $171.14. The company had a trading volume of 1,026,124 shares, compared to its average volume of 692,674. The company's fifty day moving average is $150.39 and its 200 day moving average is $134.23. The company has a market cap of $32.95 billion, a P/E ratio of -54.16, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $174.44.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $304.33 million. During the same period in the previous year, the company earned $0.90 EPS. Franco-Nevada's revenue for the quarter was up 5.8% on a year-over-year basis. On average, sell-side analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

Analyst Ratings Changes

Several research analysts have weighed in on FNV shares. BMO Capital Markets began coverage on Franco-Nevada in a research note on Wednesday. They issued an "outperform" rating on the stock. HC Wainwright upped their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Finally, Scotiabank boosted their target price on Franco-Nevada from $150.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and an average target price of $162.25.

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.