Franco-Nevada Co. (NYSE:FNV) Shares Sold by RedJay Asset Management Inc.

RedJay Asset Management Inc. reduced its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 90,000 shares of the basic materials company's stock after selling 2,250 shares during the quarter. Franco-Nevada makes up approximately 6.4% of RedJay Asset Management Inc.'s holdings, making the stock its 6th biggest position. RedJay Asset Management Inc.'s holdings in Franco-Nevada were worth $10,583,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in FNV. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $49,000. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Franco-Nevada by 538.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after buying an additional 512 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after buying an additional 126 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Up 0.2%

Shares of Franco-Nevada stock traded up $0.28 during trading on Wednesday, reaching $168.52. The company's stock had a trading volume of 456,491 shares, compared to its average volume of 726,457. The business's 50-day moving average price is $162.48 and its 200-day moving average price is $141.52. The firm has a market cap of $32.45 billion, a PE ratio of -53.33, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74.

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

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Investors 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 0.90%. The ex-dividend date is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. TD Securities cut 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 report on Tuesday, March 11th. HC Wainwright lifted their price objective on shares of Franco-Nevada from $180.00 to $195.00 and gave the stock a "buy" rating in a research report on Wednesday. UBS Group lifted their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock 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 set an "outperform" rating for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $164.63.

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.