Franco-Nevada Co. (NYSE:FNV) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lessened its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,448 shares of the basic materials company’s stock after selling 490 shares during the quarter. NFJ Investment Group LLC’s holdings in Franco-Nevada were worth $6,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at about $464,000. Scotia Capital Inc. raised its position in shares of Franco-Nevada by 4.6% during the 4th quarter. Scotia Capital Inc. now owns 141,812 shares of the basic materials company’s stock worth $16,486,000 after purchasing an additional 6,266 shares during the last quarter. Phoenix Financial Ltd. lifted its stake in Franco-Nevada by 19.1% in the 4th quarter. Phoenix Financial Ltd. now owns 4,736 shares of the basic materials company’s stock valued at $557,000 after buying an additional 760 shares in the last quarter. Advisory Services Network LLC grew its holdings in Franco-Nevada by 4.3% during the 4th quarter. Advisory Services Network LLC now owns 6,967 shares of the basic materials company’s stock valued at $819,000 after buying an additional 286 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Franco-Nevada by 0.7% during the fourth quarter. Renaissance Technologies LLC now owns 3,159,439 shares of the basic materials company’s stock worth $371,518,000 after buying an additional 20,890 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 2.1 %

Shares of FNV opened at $172.76 on Thursday. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $174.44. The firm has a market cap of $33.27 billion, a price-to-earnings ratio of -54.67, a PEG ratio of 9.78 and a beta of 0.68. The business’s 50 day moving average is $149.26 and its two-hundred day moving average is $133.59.

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, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $304.33 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, equities analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.88%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Franco-Nevada from $150.00 to $165.00 and gave the company a “sector perform” rating in a research note on Monday. Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. Finally, HC Wainwright upped their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $162.25.

Franco-Nevada 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.