Franco-Nevada Co. (NYSE:FNV) Stake Cut by Swiss National Bank

Swiss National Bank trimmed its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 558,760 shares of the basic materials company’s stock after selling 22,800 shares during the quarter. Swiss National Bank’s holdings in Franco-Nevada were worth $65,630,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 4th quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada in the third quarter worth $52,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada during the third quarter worth $55,000. SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its stake 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 valued at $73,000 after purchasing an additional 126 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of FNV opened at $153.45 on Friday. The company has a market capitalization of $29.55 billion, a PE ratio of -48.56, 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 $153.84. The company’s fifty day moving average price is $136.67 and its 200 day moving average price is $128.12.

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 for the quarter, topping the consensus estimate of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 EPS. Analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

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

Analyst Ratings Changes

Several brokerages have recently issued reports on FNV. HC Wainwright lifted their price target on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.