Russell Investments Group Ltd. Sells 7,508 Shares of Franco-Nevada Co. (NYSE:FNV)

Russell Investments Group Ltd. cut its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,546 shares of the basic materials company's stock after selling 7,508 shares during the period. Russell Investments Group Ltd.'s holdings in Franco-Nevada were worth $9,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter valued at $47,000. Physician Wealth Advisors Inc. bought a new stake in Franco-Nevada in the 4th quarter valued at $49,000. Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% during the fourth 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. SBI Securities Co. Ltd. purchased a new stake in Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its position in Franco-Nevada by 25.6% in the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after acquiring an additional 126 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

FNV has been the subject of a number of analyst reports. Royal Bank of Canada upped their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. HC Wainwright increased their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. BMO Capital Markets started coverage on Franco-Nevada in a report on Wednesday. They set an "outperform" rating for the company. UBS Group raised their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. Finally, Scotiabank increased their target price on Franco-Nevada from $150.00 to $165.00 and gave the stock a "sector perform" rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average price target of $162.25.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $1.83 on Thursday, hitting $170.75. The company's stock had a trading volume of 287,349 shares, compared to its average volume of 690,847. The company has a market capitalization of $32.88 billion, a PE ratio of -54.12, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $174.44. The company has a 50-day simple moving average of $149.26 and a 200 day simple moving average of $133.59.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue was up 5.8% on a year-over-year basis. During the same period last year, the company posted $0.90 EPS. On average, equities research analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's payout ratio is currently 53.15%.

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.