Franco-Nevada Co. (NYSE:FNV) Stock Position Decreased by Ashford Capital Management Inc.

Ashford Capital Management Inc. reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 154,844 shares of the basic materials company's stock after selling 11,460 shares during the period. Franco-Nevada accounts for about 2.1% of Ashford Capital Management Inc.'s investment portfolio, making the stock its 22nd largest position. Ashford Capital Management Inc. owned 0.08% of Franco-Nevada worth $18,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Franco-Nevada during the fourth quarter valued at about $237,643,000. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after purchasing an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after purchasing an additional 828,166 shares in the last quarter. Capital World Investors increased its position in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock valued at $56,762,000 after buying an additional 478,602 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FNV has been the subject of several recent research reports. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. BMO Capital Markets initiated coverage on Franco-Nevada in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Scotiabank raised their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a research note on Tuesday, March 11th. Finally, Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $162.75.

Franco-Nevada Stock Performance

Shares of FNV stock traded up $3.97 during mid-day trading on Friday, reaching $168.00. 483,799 shares of the company were exchanged, compared to its average volume of 726,544. The business's 50 day simple moving average is $161.70 and its 200 day simple moving average is $140.73. The company has a market capitalization of $32.35 billion, a P/E ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The company's revenue was up 43.5% on a year-over-year basis. On average, analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is currently 47.50%.

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.