Franco-Nevada Co. (NYSE:FNV) Shares Sold by Sapient Capital LLC

Sapient Capital LLC lessened its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,121 shares of the basic materials company’s stock after selling 504 shares during the quarter. Sapient Capital LLC’s holdings in Franco-Nevada were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after purchasing an additional 424,810 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the last quarter. M&G PLC boosted its holdings in shares of Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Franco-Nevada by 2.2% in the 3rd quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after purchasing an additional 29,512 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Franco-Nevada by 76.5% in the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after purchasing an additional 556,894 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of research analyst reports. Scotiabank decreased their price target 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. 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 target price on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $155.00 target price on shares of Franco-Nevada in a research note on Tuesday, January 28th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus target price of $146.71.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $142.92 on Wednesday. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $143.77. The company has a market capitalization of $27.52 billion, a price-to-earnings ratio of -45.23, a price-to-earnings-growth ratio of 9.88 and a beta of 0.74. The firm’s fifty day moving average price is $126.00 and its 200 day moving average price is $124.98.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.06%. Franco-Nevada’s payout ratio is -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.