FIL Ltd Sells 1,115,041 Shares of Franco-Nevada Co. (NYSE:FNV)

FIL Ltd trimmed its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,106,186 shares of the basic materials company’s stock after selling 1,115,041 shares during the period. Franco-Nevada accounts for about 1.0% of FIL Ltd’s investment portfolio, making the stock its 17th biggest holding. FIL Ltd owned approximately 4.73% of Franco-Nevada worth $1,070,219,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Covea Finance boosted its holdings in Franco-Nevada by 2.7% during the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after buying an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after acquiring an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Franco-Nevada by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company’s stock valued at $113,200,000 after purchasing an additional 45,495 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Tri Ri Asset Management Corp bought a new stake in Franco-Nevada in the third quarter valued at approximately $3,433,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 0.3 %

Shares of FNV opened at $145.39 on Tuesday. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $161.36. The firm has a fifty day simple moving average of $145.51 and a 200 day simple moving average of $131.81. The stock has a market capitalization of $28.00 billion, a price-to-earnings ratio of -46.01, a PEG ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (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 during 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 quarterly revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 EPS. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.05%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently 53.15%.

Analysts Set New Price Targets

FNV has been the subject of several research analyst reports. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. UBS Group boosted their target price on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. Scotiabank boosted their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.88.

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.