DekaBank Deutsche Girozentrale decreased its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 35.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 73,300 shares of the basic materials company's stock after selling 39,744 shares during the quarter. DekaBank Deutsche Girozentrale's holdings in Franco-Nevada were worth $8,195,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV raised its position in shares of Franco-Nevada by 3.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,234 shares of the basic materials company's stock worth $319,000 after acquiring an additional 73 shares in the last quarter. IHT Wealth Management LLC grew its stake in Franco-Nevada by 4.6% in the 4th quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company's stock valued at $329,000 after acquiring an additional 78 shares during the period. Fortune Financial Advisors LLC increased its stake in shares of Franco-Nevada by 1.8% during the third quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company's stock worth $598,000 after purchasing an additional 81 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Franco-Nevada by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company's stock worth $626,000 after buying an additional 85 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Franco-Nevada by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company's stock valued at $2,247,000 after purchasing an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.
Analyst Upgrades and Downgrades
Several analysts have recently commented on FNV shares. TheStreet lowered shares of Franco-Nevada from a "c+" rating to a "d+" rating in a research report on Tuesday, March 5th. Bank of America cut their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a research note on Monday, March 18th. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an "outperform" rating in a report on Thursday. Jefferies Financial Group began coverage on shares of Franco-Nevada in a research report on Thursday, February 29th. They set a "hold" rating and a $117.00 price objective for the company. Finally, Scotiabank cut their target price on Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $147.30.
Read Our Latest Analysis on FNV
Franco-Nevada Stock Performance
Shares of NYSE FNV traded down $0.24 during midday trading on Thursday, reaching $121.34. 525,771 shares of the company's stock were exchanged, compared to its average volume of 737,584. The business's fifty day moving average price is $112.71 and its two-hundred day moving average price is $116.77. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $161.25. The stock has a market capitalization of $23.32 billion, a PE ratio of -49.93, a price-to-earnings-growth ratio of 6.77 and a beta of 0.71.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. Analysts predict that Franco-Nevada Co. will post 2.68 earnings per share for the current fiscal year.
Franco-Nevada Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.19%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.34. Franco-Nevada's dividend payout ratio is presently -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.
Read More
Before you consider Franco-Nevada, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Franco-Nevada wasn't on the list.
While Franco-Nevada currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
