Russell Investments Group Ltd. reduced its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,546 shares of the basic materials company's stock after selling 7,508 shares during the quarter. Russell Investments Group Ltd.'s holdings in Franco-Nevada were worth $9,109,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada in the fourth quarter valued at approximately $47,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $49,000. Harbour Investments Inc. increased its stake in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada during the 4th quarter worth $73,000. Finally, Jones Financial Companies Lllp lifted its position in shares of Franco-Nevada by 25.6% during the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after buying an additional 126 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Franco-Nevada Trading Up 5.5 %
Shares of FNV opened at $166.13 on Friday. The stock's 50-day moving average price is $147.54 and its two-hundred day moving average price is $132.73. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $167.36. The company has a market capitalization of $31.99 billion, a PE ratio of -52.57, a PEG ratio of 9.78 and a beta of 0.68.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.90 earnings per share. Equities research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.
Franco-Nevada Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.
Wall Street Analysts Forecast Growth
FNV has been the topic of a number of recent analyst reports. HC Wainwright lifted their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Raymond James lifted their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 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. Finally, Scotiabank increased their price target on Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $160.38.
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About Franco-Nevada
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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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