Axxcess Wealth Management LLC Decreases Holdings in Franco-Nevada Co. (NYSE:FNV)

Axxcess Wealth Management LLC decreased its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 30,277 shares of the basic materials company’s stock after selling 216 shares during the period. Axxcess Wealth Management LLC’s holdings in Franco-Nevada were worth $3,560,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the fourth quarter valued at about $47,000. Point72 DIFC Ltd purchased a new stake in Franco-Nevada during the 3rd quarter valued at about $52,000. Harbour Investments Inc. grew its position in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Erste Asset Management GmbH purchased a new position in Franco-Nevada in the 3rd quarter worth approximately $55,000. Finally, SBI Securities Co. Ltd. bought a new stake in Franco-Nevada in the fourth quarter valued at approximately $73,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FNV. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday. TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Raymond James raised their target price on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, HC Wainwright upped their price target on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $154.31 on Wednesday. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $156.82. The stock has a market cap of $29.71 billion, a price-to-earnings ratio of -48.83, a PEG ratio of 9.78 and a beta of 0.73. The stock’s 50 day simple moving average is $137.96 and its two-hundred day simple moving average is $128.62.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.99%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is presently 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.