Mad River Investors lessened its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 21.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,001 shares of the basic materials company's stock after selling 8,804 shares during the quarter. Franco-Nevada makes up approximately 3.4% of Mad River Investors' investment portfolio, making the stock its 7th largest position. Mad River Investors' holdings in Franco-Nevada were worth $3,657,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Franco-Nevada by 3.3% during the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company's stock worth $61,693,000 after buying an additional 12,446 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Franco-Nevada by 10.2% in the first quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company's stock worth $318,000 after acquiring an additional 184 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Franco-Nevada by 23.1% in the first quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company's stock valued at $11,035,000 after acquiring an additional 12,993 shares during the last quarter. Aviva PLC increased its position in Franco-Nevada by 5.8% during the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company's stock valued at $10,040,000 after purchasing an additional 3,438 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Franco-Nevada by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company's stock worth $1,014,271,000 after purchasing an additional 141,139 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on FNV. Jefferies Financial Group initiated coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They issued a "hold" rating and a $117.00 price objective on the stock. Bank of America decreased their price target on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating for the company in a report on Monday, March 18th. Raymond James dropped their price objective on Franco-Nevada from $148.00 to $141.00 and set an "outperform" rating on the stock in a research note on Tuesday, December 12th. Scotiabank lowered their target price on Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating for the company in a report on Thursday, March 7th. Finally, TheStreet lowered Franco-Nevada from a "c+" rating to a "d+" rating in a research note on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $147.30.
Check Out Our Latest Stock Report on FNV
Franco-Nevada Trading Down 0.2 %
Shares of FNV traded down $0.21 during trading hours on Wednesday, reaching $121.58. The stock had a trading volume of 655,660 shares, compared to its average volume of 740,652. The firm has a 50-day simple moving average of $112.23 and a 200 day simple moving average of $116.71. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $161.25. The company has a market capitalization of $23.37 billion, a price-to-earnings ratio of -49.57, a P/E/G ratio of 6.77 and a beta of 0.71.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $303.30 million for the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. On average, equities analysts forecast that Franco-Nevada Co. will post 2.68 EPS for the current year.
Franco-Nevada Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.18%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.34. Franco-Nevada's payout ratio is -55.97%.
About Franco-Nevada
(
Free Report)
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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