Northwest & Ethical Investments L.P. Sells 657 Shares of Franco-Nevada Co. (NYSE:FNV)

Northwest & Ethical Investments L.P. lessened its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,227 shares of the basic materials company’s stock after selling 657 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Franco-Nevada were worth $15,393,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Covea Finance grew its holdings in shares of Franco-Nevada by 2.7% during the 4th quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after purchasing an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 buying an additional 16,029 shares in the last quarter. Horizon Kinetics Asset Management LLC grew its stake in shares of Franco-Nevada by 1.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock worth $116,277,000 after buying an additional 17,232 shares during the last quarter. Telemark Asset Management LLC increased its holdings in shares of Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock worth $6,212,000 after buying an additional 20,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of Franco-Nevada by 113.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after acquiring an additional 2,710 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on FNV shares. UBS Group boosted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Raymond James raised their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Scotiabank boosted their target price on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Finally, TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Stock Performance

NYSE:FNV opened at $154.26 on Thursday. The company has a market capitalization of $29.70 billion, a PE ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $156.82. The company has a 50 day simple moving average of $138.50 and a two-hundred day simple moving average of $128.80.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. The company 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%. Franco-Nevada’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s payout ratio is currently 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.