Franco-Nevada Co. (NYSE:FNV) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 572,116 shares of the basic materials company’s stock after selling 106,800 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Franco-Nevada were worth $67,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FNV. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth approximately $47,000. Point72 DIFC Ltd purchased a new position in shares of Franco-Nevada during the 3rd quarter worth $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $55,000. SBI Securities Co. Ltd. purchased a new stake in Franco-Nevada in the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp lifted its position in Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock valued at $73,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. HC Wainwright lifted their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday. TD Securities cut 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. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Friday, March 7th. Finally, UBS Group boosted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday. Five research 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 an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Price Performance

FNV opened at $147.39 on Thursday. The business has a fifty day moving average price of $134.87 and a 200 day moving average price of $127.60. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $148.71. The stock has a market capitalization of $28.38 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced 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 business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. On average, research analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s payout ratio is 53.15%.

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.