Montrusco Bolton Investments Inc. Has $17.21 Million Position in Franco-Nevada Co. (NYSE:FNV)

Montrusco Bolton Investments Inc. cut its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,489 shares of the basic materials company's stock after selling 19,917 shares during the period. Montrusco Bolton Investments Inc. owned 0.08% of Franco-Nevada worth $17,205,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Franco-Nevada by 76.5% during 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 acquiring an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake 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 worth $411,003,000 after buying an additional 537,047 shares during the last quarter. Victory Capital Management Inc. grew its stake in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock valued at $433,538,000 after buying an additional 424,810 shares during the last quarter. Two Sigma Advisers LP raised its holdings 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. Finally, Clearbridge Investments LLC lifted its position in Franco-Nevada by 4,361.2% during the second quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company's stock worth $32,659,000 after acquiring an additional 269,394 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of FNV traded up $0.24 during mid-day trading on Wednesday, reaching $130.90. 1,175,136 shares of the company were exchanged, compared to its average volume of 626,896. The business has a 50 day simple moving average of $122.70 and a two-hundred day simple moving average of $124.07. The stock has a market capitalization of $25.20 billion, a PE ratio of -41.42, a PEG ratio of 7.08 and a beta of 0.72. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. Franco-Nevada's quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.91 EPS. On average, analysts predict that Franco-Nevada Co. will post 3.18 EPS for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.10%. Franco-Nevada's payout ratio is -45.57%.

Analysts Set New Price Targets

Several analysts recently issued reports on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. Finally, Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $145.33.

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.