Franco-Nevada Co. (NYSE:FNV) Position Reduced by Mackenzie Financial Corp

Mackenzie Financial Corp reduced its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,514,148 shares of the basic materials company's stock after selling 10,388 shares during the period. Mackenzie Financial Corp owned approximately 0.79% of Franco-Nevada worth $177,741,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FNV. Norges Bank acquired a new stake in shares of Franco-Nevada during the fourth quarter valued at about $237,643,000. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Franco-Nevada by 246.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares in the last quarter. Capital World Investors grew its stake in shares of Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after acquiring an additional 711,591 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Franco-Nevada by 11,659.0% during 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 acquiring an additional 478,602 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on FNV shares. Royal Bank of Canada increased their price target 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. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday. Scotiabank increased their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Finally, UBS Group increased their price target 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $165.25.

Franco-Nevada Stock Performance

Shares of FNV traded up $0.70 during mid-day trading on Thursday, reaching $169.20. 154,199 shares of the company's stock traded hands, compared to its average volume of 724,215. The business's 50-day moving average price is $162.48 and its 200-day moving average price is $141.52. The stock has a market capitalization of $32.58 billion, a P/E ratio of -53.54, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating 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 quarter in the previous year, the company posted $0.76 earnings per share. Equities research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

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.