Montrusco Bolton Investments Inc. Cuts Stake in Franco-Nevada Co. (NYSE:FNV)

Montrusco Bolton Investments Inc. lessened its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,489 shares of the basic materials company’s stock after selling 19,917 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Franco-Nevada were worth $17,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. PFG Investments LLC raised its holdings in Franco-Nevada by 10.9% in the fourth quarter. PFG Investments LLC now owns 6,754 shares of the basic materials company’s stock worth $794,000 after buying an additional 665 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Franco-Nevada by 4.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 2,715 shares of the basic materials company’s stock valued at $319,000 after acquiring an additional 122 shares in the last quarter. Euro Pacific Asset Management LLC raised its holdings in Franco-Nevada by 2.1% in the 4th quarter. Euro Pacific Asset Management LLC now owns 227,912 shares of the basic materials company’s stock worth $27,046,000 after acquiring an additional 4,733 shares during the last quarter. Sustainable Insight Capital Management LLC lifted its position in Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after acquiring an additional 100 shares in the last quarter. Finally, Fiduciary Family Office LLC purchased a new stake in Franco-Nevada during the 4th quarter valued at $218,000. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FNV shares. Scotiabank decreased their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Jefferies Financial Group decreased their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group assumed coverage on shares of Franco-Nevada in a report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus price target of $145.33.

Franco-Nevada Stock Up 1.2 %

Shares of FNV stock opened at $130.79 on Wednesday. Franco-Nevada Co. has a 12 month low of $103.64 and a 12 month high of $137.60. The company has a 50 day simple moving average of $122.70 and a two-hundred day simple moving average of $124.07.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 earnings per share. On average, research analysts expect that Franco-Nevada Co. will post 3.18 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.10%. Franco-Nevada’s payout ratio is currently -45.57%.

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.