Veracity Capital LLC Has $278,000 Stock Position in Franco-Nevada Co. (NYSE:FNV)

Veracity Capital LLC reduced its position in Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) by 23.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,511 shares of the basic materials company’s stock after selling 772 shares during the period. Veracity Capital LLC’s holdings in Franco-Nevada were worth $278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FNV. Mercer Global Advisors Inc. ADV lifted its holdings in Franco-Nevada by 3.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,234 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 73 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in Franco-Nevada by 4.6% during the fourth quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after acquiring an additional 78 shares in the last quarter. Fortune Financial Advisors LLC lifted its holdings in Franco-Nevada by 1.8% during the third quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock worth $598,000 after acquiring an additional 81 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Franco-Nevada by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock worth $626,000 after acquiring an additional 85 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in shares of Franco-Nevada by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock valued at $2,247,000 after purchasing an additional 94 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNV has been the topic of a number of research reports. TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Jefferies Financial Group initiated coverage on Franco-Nevada in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target on the stock. Scotiabank cut their price target on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. Bank of America cut their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Raymond James cut their price target on Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating on the stock in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Hold” and a consensus target price of $147.30.

Check Out Our Latest Stock Report on Franco-Nevada

Franco-Nevada Price Performance

NYSE FNV traded down $0.37 during trading on Tuesday, reaching $120.68. 87,694 shares of the company’s stock were exchanged, compared to its average volume of 737,896. The business has a 50 day moving average price of $110.81 and a 200-day moving average price of $117.64. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $161.25.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The firm had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. On average, analysts predict that Franco-Nevada Co. will post 2.68 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s payout ratio is -55.97%.

Franco-Nevada Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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