BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $39.23 Million Position in Franco-Nevada Co. (NYSE:FNV)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 74.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 334,222 shares of the basic materials company's stock after selling 950,353 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.17% of Franco-Nevada worth $39,225,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its position in Franco-Nevada by 29.4% during the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock worth $4,450,000 after buying an additional 8,147 shares during the period. Assenagon Asset Management S.A. increased its position in Franco-Nevada by 2.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 7,528 shares of the basic materials company's stock valued at $884,000 after buying an additional 203 shares in the last quarter. Crossmark Global Holdings Inc. raised its stake in Franco-Nevada by 3.6% during the 4th quarter. Crossmark Global Holdings Inc. now owns 9,387 shares of the basic materials company's stock worth $1,104,000 after buying an additional 326 shares during the period. SG Americas Securities LLC boosted its holdings in Franco-Nevada by 3.3% in the fourth quarter. SG Americas Securities LLC now owns 36,643 shares of the basic materials company's stock worth $4,309,000 after acquiring an additional 1,168 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Franco-Nevada by 1.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,286 shares of the basic materials company's stock valued at $1,680,000 after acquiring an additional 241 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 1.6%

FNV stock opened at $164.53 on Wednesday. The stock has a market cap of $31.68 billion, a P/E ratio of -52.07, a P/E/G ratio of 9.78 and a beta of 0.45. The stock's fifty day simple moving average is $160.98 and its two-hundred day simple moving average is $140.03. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year 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 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. The company had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business's revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's payout ratio is 47.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FNV shares. HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Raymond James boosted their price objective on Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a report on Friday, April 4th. Scotiabank raised their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. UBS Group upped their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Finally, StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $162.75.

Franco-Nevada 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.

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