Cresset Asset Management LLC Reduces Stake in Franco-Nevada Co. (NYSE:FNV)

Cresset Asset Management LLC reduced its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 67.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,343 shares of the basic materials company's stock after selling 4,922 shares during the period. Cresset Asset Management LLC's holdings in Franco-Nevada were worth $276,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Barclays PLC grew its holdings in Franco-Nevada by 29.4% during the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock valued at $4,450,000 after buying an additional 8,147 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Franco-Nevada by 2.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 7,528 shares of the basic materials company's stock valued at $884,000 after acquiring an additional 203 shares in the last quarter. Annex Advisory Services LLC increased its holdings in Franco-Nevada by 24.7% during the 4th quarter. Annex Advisory Services LLC now owns 159,404 shares of the basic materials company's stock worth $18,744,000 after acquiring an additional 31,547 shares during the period. Crossmark Global Holdings Inc. lifted its stake in Franco-Nevada by 3.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,387 shares of the basic materials company's stock worth $1,104,000 after purchasing an additional 326 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Franco-Nevada by 3.3% in the 4th quarter. SG Americas Securities LLC now owns 36,643 shares of the basic materials company's stock valued at $4,309,000 after purchasing an additional 1,168 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 0.7%

Shares of NYSE:FNV traded up $1.18 on Wednesday, reaching $165.74. 642,125 shares of the company traded hands, compared to its average volume of 724,632. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74. The business's 50-day simple moving average is $160.98 and its 200 day simple moving average is $140.03. The stock has a market capitalization of $31.91 billion, a P/E ratio of -52.45, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly 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 business 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 quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. Sell-side analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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 given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is 47.50%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. UBS Group lifted their price target on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets assumed coverage on shares of Franco-Nevada in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Royal Bank of Canada lifted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, HC Wainwright increased their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.75.

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.