Pictet Asset Management Holding SA Sells 129 Shares of Franco-Nevada Co. (NYSE:FNV)

Pictet Asset Management Holding SA trimmed its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 86,461 shares of the basic materials company’s stock after selling 129 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Franco-Nevada were worth $10,155,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Essex Financial Services Inc. raised its holdings in shares of Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. grew its position in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. Mutual Advisors LLC raised its stake in Franco-Nevada by 4.0% during the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC lifted its holdings in shares of Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after acquiring an additional 100 shares during the last quarter. Finally, Blossom Wealth Management boosted its stake in shares of Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 108 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 0.5 %

FNV opened at $156.92 on Thursday. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $159.38. The company has a fifty day moving average of $144.31 and a 200-day moving average of $131.24. The stock has a market cap of $30.22 billion, a PE ratio of -49.66, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.97%. Franco-Nevada’s payout ratio is 53.15%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research reports. HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Scotiabank lifted their price target on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. TD Securities downgraded 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. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

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.