Franco-Nevada Co. (NYSE:FNV) Position Cut by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 14.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,051 shares of the basic materials company’s stock after selling 356 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Franco-Nevada were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Franco-Nevada by 76.5% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after acquiring an additional 556,894 shares during the period. EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares during the period. Proficio Capital Partners LLC grew its holdings in Franco-Nevada by 11,659.0% during the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after acquiring an additional 478,602 shares during the period. Two Sigma Advisers LP grew its holdings in Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after acquiring an additional 359,900 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after acquiring an additional 193,968 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FNV has been the topic of a number of research analyst reports. Scotiabank lifted their target price on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Raymond James lifted their price target on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. Royal Bank of Canada lifted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Finally, UBS Group lifted their price target on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Trading Down 0.0 %

Shares of NYSE FNV opened at $154.26 on Thursday. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $156.82. The firm has a market capitalization of $29.70 billion, a PE ratio of -48.82, a PEG ratio of 9.78 and a beta of 0.73. The business has a 50-day moving average price of $138.50 and a two-hundred day moving average price of $128.80.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same period last year, the company posted $0.90 EPS. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. 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 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.