Corient Private Wealth LLC Cuts Position in Franco-Nevada Co. (NYSE:FNV)

Corient Private Wealth LLC lessened its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 221,840 shares of the basic materials company’s stock after selling 3,742 shares during the quarter. Corient Private Wealth LLC’s holdings in Franco-Nevada were worth $26,086,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FNV. Natixis Advisors LLC lifted its stake in shares of Franco-Nevada by 6.5% in the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock valued at $2,535,000 after purchasing an additional 1,237 shares during the last quarter. Swiss National Bank lifted its stake in shares of Franco-Nevada by 0.8% in the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company’s stock valued at $72,347,000 after purchasing an additional 4,900 shares during the last quarter. Drive Wealth Management LLC lifted its stake in shares of Franco-Nevada by 11.9% in the 3rd quarter. Drive Wealth Management LLC now owns 3,355 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 356 shares during the last quarter. Beddow Capital Management Inc. lifted its stake in shares of Franco-Nevada by 1.4% in the 3rd quarter. Beddow Capital Management Inc. now owns 57,882 shares of the basic materials company’s stock valued at $7,192,000 after purchasing an additional 790 shares during the last quarter. Finally, America First Investment Advisors LLC lifted its stake in shares of Franco-Nevada by 4.3% in the 3rd quarter. America First Investment Advisors LLC now owns 161,765 shares of the basic materials company’s stock valued at $20,099,000 after purchasing an additional 6,717 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FNV shares. UBS Group raised their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. Royal Bank of Canada raised their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. HC Wainwright raised their price target on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. Finally, Scotiabank raised their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Trading Up 0.2 %

Shares of FNV stock opened at $154.31 on Wednesday. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $156.82. The stock has a market capitalization of $29.71 billion, a price-to-earnings ratio of -48.83, a P/E/G ratio of 9.78 and a beta of 0.73. The stock has a fifty day simple moving average of $137.96 and a two-hundred day simple moving average of $128.62.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the prior year, the business earned $0.90 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s payout ratio is presently 53.15%.

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.