Franco-Nevada Co. (NYSE:FNV) Stock Holdings Reduced by McCollum Christoferson Group LLC

McCollum Christoferson Group LLC cut its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,361 shares of the basic materials company’s stock after selling 2,295 shares during the period. McCollum Christoferson Group LLC’s holdings in Franco-Nevada were worth $3,805,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position 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 valued at $159,530,000 after acquiring an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Franco-Nevada by 11,659.0% during the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock worth $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Bennbridge Ltd bought a new position in shares of Franco-Nevada during the 4th quarter valued at $45,877,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after purchasing an additional 359,900 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $155.85 on Monday. The firm has a fifty day moving average price of $139.63 and a two-hundred day moving average price of $129.36. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $157.63. The company has a market cap of $30.01 billion, a PE ratio of -49.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its 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. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same period last year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. Analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. 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 dividend payout ratio is presently 53.15%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. HC Wainwright increased their price objective on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Scotiabank boosted 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. UBS Group increased their price target on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, TD Securities cut shares of 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. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average target price of $153.63.

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.