Bfsg LLC Reduces Stake in Franco-Nevada Co. (NYSE:FNV)

Bfsg LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,160 shares of the basic materials company’s stock after selling 3,103 shares during the quarter. Franco-Nevada accounts for about 1.1% of Bfsg LLC’s portfolio, making the stock its 19th largest holding. Bfsg LLC’s holdings in Franco-Nevada were worth $7,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FNV. Larson Financial Group LLC raised its stake in shares of Franco-Nevada by 35.2% during the 4th quarter. Larson Financial Group LLC now owns 642 shares of the basic materials company’s stock valued at $71,000 after buying an additional 167 shares during the last quarter. Significant Wealth Partners LLC acquired a new position in Franco-Nevada in the fourth quarter valued at approximately $780,000. Duality Advisers LP acquired a new position in Franco-Nevada in the fourth quarter valued at approximately $2,538,000. Euro Pacific Asset Management LLC boosted its position in Franco-Nevada by 20.7% in the 4th quarter. Euro Pacific Asset Management LLC now owns 129,779 shares of the basic materials company’s stock worth $14,380,000 after purchasing an additional 22,243 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Franco-Nevada by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,135 shares of the basic materials company’s stock worth $20,384,000 after purchasing an additional 61,354 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank raised their target price on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, Jefferies Financial Group boosted their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Franco-Nevada currently has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Price Performance

NYSE FNV traded up $0.52 during mid-day trading on Thursday, hitting $119.53. The stock had a trading volume of 152,384 shares, compared to its average volume of 731,051. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $161.25. The firm’s 50 day moving average is $114.55 and its 200 day moving average is $115.81. The stock has a market capitalization of $22.99 billion, a price-to-earnings ratio of -48.95, a PEG ratio of 6.22 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $303.30 million during the quarter. As a group, equities research analysts expect that Franco-Nevada Co. will post 2.9 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.36 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. Franco-Nevada’s dividend payout ratio is -55.97%.

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.