Independent Advisor Alliance Sells 259 Shares of Franco-Nevada Co. (NYSE:FNV)

Independent Advisor Alliance lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,318 shares of the basic materials company’s stock after selling 259 shares during the quarter. Independent Advisor Alliance’s holdings in Franco-Nevada were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after purchasing an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Two Sigma Advisers LP increased its stake in shares of Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

FNV opened at $154.26 on Tuesday. The company has a fifty day moving average price of $137.34 and a 200-day moving average price of $128.39. The firm has a market capitalization of $29.70 billion, a P/E ratio of -48.82, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $155.97.

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

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.99%. Franco-Nevada’s payout ratio is currently 53.15%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Raymond James lifted their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Scotiabank lifted their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. Finally, StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.63.

Franco-Nevada 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.