Mackenzie Financial Corp Cuts Stake in Franco-Nevada Co. (NYSE:FNV)

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

Several other large investors have also recently bought and sold shares of FNV. Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at about $641,000. Public Employees Retirement System of Ohio increased its position in shares of Franco-Nevada by 1.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 99,257 shares of the basic materials company's stock valued at $11,662,000 after purchasing an additional 994 shares during the last quarter. Hudson Value Partners LLC increased its position in shares of Franco-Nevada by 5.9% during the 4th quarter. Hudson Value Partners LLC now owns 32,279 shares of the basic materials company's stock valued at $3,796,000 after purchasing an additional 1,790 shares during the last quarter. Adalta Capital Management LLC increased its position in shares of Franco-Nevada by 25.4% during the 4th quarter. Adalta Capital Management LLC now owns 13,216 shares of the basic materials company's stock valued at $1,554,000 after purchasing an additional 2,677 shares during the last quarter. Finally, USS Investment Management Ltd increased its holdings in Franco-Nevada by 446.1% in the 4th quarter. USS Investment Management Ltd now owns 53,518 shares of the basic materials company's stock worth $6,282,000 after acquiring an additional 43,718 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of several analyst reports. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. HC Wainwright lifted their price target on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Raymond James lifted their price target on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank boosted their target price on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, UBS Group boosted their target price on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.75.

Franco-Nevada Stock Up 0.2%

NYSE FNV traded up $0.38 during trading on Tuesday, hitting $168.24. 744,495 shares of the stock traded hands, compared to its average volume of 726,617. The company has a market capitalization of $32.40 billion, a P/E ratio of -53.24, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. The firm has a 50-day simple moving average of $162.23 and a 200-day simple moving average of $141.33. 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 posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company's revenue for the quarter was up 43.5% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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