Franco-Nevada Co. (NYSE:FNV) Shares Sold by Canoe Financial LP

Canoe Financial LP cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,177 shares of the basic materials company’s stock after selling 537 shares during the period. Canoe Financial LP’s holdings in Franco-Nevada were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC purchased a new position in shares of Franco-Nevada during the 4th quarter valued at about $47,000. Sunbelt Securities Inc. grew its holdings in Franco-Nevada by 3,333.3% during the second quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 400 shares during the period. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter valued at approximately $52,000. Erste Asset Management GmbH acquired a new position in Franco-Nevada in the third quarter valued at approximately $55,000. Finally, Birch Capital Management LLC boosted its position in Franco-Nevada by 37.9% in the 4th quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock worth $128,000 after purchasing an additional 298 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

FNV opened at $125.81 on Friday. Franco-Nevada Co. has a twelve month low of $103.64 and a twelve month high of $137.60. The firm’s 50-day moving average price is $120.87 and its 200 day moving average price is $123.81.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the prior year, the firm earned $0.91 earnings per share. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, sell-side analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent research reports. HC Wainwright cut their target price on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 price target on the stock. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Scotiabank decreased their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a report on Friday, November 8th. Finally, Bank of America cut shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their target price for the stock from $142.00 to $139.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.33.

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.