Franco-Nevada Co. (NYSE:FNV) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lowered its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 33.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 166,209 shares of the basic materials company’s stock after selling 85,051 shares during the quarter. Cannell & Spears LLC owned 0.09% of Franco-Nevada worth $19,545,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in FNV. Covea Finance increased its position 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 purchasing an additional 2,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Franco-Nevada by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock valued at $49,702,000 after acquiring an additional 16,029 shares during the period. Steward Partners Investment Advisory LLC boosted its position in shares of 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 worth $601,000 after buying an additional 2,710 shares during the period. Tri Ri Asset Management Corp purchased a new stake in shares of Franco-Nevada during the third quarter valued at approximately $3,433,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in Franco-Nevada by 5.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after purchasing an additional 52,199 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FNV has been the topic of several analyst reports. Scotiabank raised their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. UBS Group boosted their price target on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, Raymond James raised their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $155.50.

Franco-Nevada Trading Down 1.2 %

NYSE FNV opened at $155.36 on Monday. The company has a market cap of $29.92 billion, a PE ratio of -49.16, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $159.38. The stock has a 50 day moving average of $142.60 and a 200-day moving average of $130.60.

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

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. The ex-dividend date was Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. Franco-Nevada’s dividend payout ratio is 53.15%.

Franco-Nevada Company 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.