HighTower Advisors LLC Lowers Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

HighTower Advisors LLC lowered its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 16.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,433 shares of the basic materials company's stock after selling 13,637 shares during the quarter. HighTower Advisors LLC's holdings in Franco-Nevada were worth $8,047,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of FNV. Huntington National Bank increased its stake in Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock valued at $185,000 after purchasing an additional 102 shares in the last quarter. Natixis Advisors LLC increased its stake in 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 in the last quarter. Swiss National Bank increased its stake in Franco-Nevada by 0.8% during the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company's stock valued at $72,347,000 after purchasing an additional 4,900 shares in the last quarter. Drive Wealth Management LLC increased its stake in Franco-Nevada by 11.9% during the 3rd quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company's stock valued at $417,000 after purchasing an additional 356 shares in the last quarter. Finally, Beddow Capital Management Inc. increased its stake in Franco-Nevada by 1.4% during the 3rd quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company's stock valued at $7,192,000 after purchasing an additional 790 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Raymond James boosted their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating 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 note on Wednesday. UBS Group upped their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday, March 11th. Scotiabank upped their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Finally, Royal Bank of Canada upped their target price 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. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $153.63.

Franco-Nevada Stock Performance

NYSE FNV traded up $0.32 during trading on Friday, hitting $155.85. 808,937 shares of the company's stock traded hands, compared to its average volume of 748,384. The stock has a market capitalization of $30.01 billion, a price-to-earnings ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $156.82. The business has a 50 day moving average of $139.06 and a 200-day moving average of $128.98.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating 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 revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada's dividend payout ratio is 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.