Fruth Investment Management Has $711,000 Stock Position in Franco-Nevada Co. (NYSE:FNV)

Fruth Investment Management lessened its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,050 shares of the basic materials company’s stock after selling 400 shares during the quarter. Fruth Investment Management’s holdings in Franco-Nevada were worth $711,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FNV. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $47,000. Point72 DIFC Ltd bought a new stake in Franco-Nevada in the third quarter valued at $52,000. Erste Asset Management GmbH bought a new stake in Franco-Nevada in the third quarter valued at $55,000. Birch Capital Management LLC raised its holdings in shares of Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company’s stock valued at $128,000 after purchasing an additional 298 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Franco-Nevada during the 3rd quarter worth about $147,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research report on Tuesday, January 28th. UBS Group started coverage on Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a report on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, Scotiabank dropped 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 research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Price Performance

FNV stock opened at $141.82 on Thursday. Franco-Nevada Co. has a 1-year low of $103.64 and a 1-year high of $142.32. The stock’s fifty day simple moving average is $124.41 and its two-hundred day simple moving average is $124.49.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $279.11 million. During the same period last year, the firm posted $0.91 earnings per share. Franco-Nevada’s quarterly revenue was down 10.9% compared to the same quarter last year. On average, equities research analysts forecast that Franco-Nevada Co. will post 3.19 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 1.07%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.