Fmr LLC Has $1.16 Billion Holdings in Franco-Nevada Co. (NYSE:FNV)

Fmr LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,863,339 shares of the basic materials company’s stock after selling 115,077 shares during the quarter. Fmr LLC owned 5.12% of Franco-Nevada worth $1,159,077,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Covea Finance increased its stake in Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock worth $11,895,000 after acquiring an additional 2,700 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock valued at $49,702,000 after purchasing an additional 16,029 shares in the last quarter. Steward Partners Investment Advisory LLC raised 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. JPMorgan Chase & Co. lifted its position 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 worth $113,200,000 after purchasing an additional 45,495 shares during the period. Finally, Tri Ri Asset Management Corp acquired a new stake in Franco-Nevada during the third quarter worth about $3,433,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FNV has been the subject of a number of recent analyst reports. HC Wainwright upped their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. Scotiabank upped their price objective on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 11th. Finally, Royal Bank of Canada lifted their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.88.

Franco-Nevada Trading Down 8.7 %

NYSE:FNV opened at $144.86 on Monday. The stock’s 50-day moving average is $145.19 and its 200-day moving average is $131.67. The stock has a market cap of $27.89 billion, a P/E ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $161.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to analysts’ expectations 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 revenue was up 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.90 EPS. As a group, equities analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

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

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.