HighTower Advisors LLC Sells 13,637 Shares of Franco-Nevada Co. (NYSE:FNV)

HighTower Advisors LLC lessened its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,433 shares of the basic materials company’s stock after selling 13,637 shares during the quarter. HighTower Advisors LLC’s holdings in Franco-Nevada were worth $8,047,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Franco-Nevada by 76.5% in 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 purchasing an additional 556,894 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after purchasing an additional 537,047 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after purchasing an additional 478,602 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Franco-Nevada by 60.1% in the third 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. Finally, Van ECK Associates Corp increased its holdings in Franco-Nevada by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

FNV stock opened at $154.26 on Tuesday. The stock has a market capitalization of $29.70 billion, a P/E ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. The business has a 50-day moving average of $137.34 and a 200-day moving average of $128.39. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $155.97.

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

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.99%. Franco-Nevada’s dividend payout ratio is 53.15%.

Analysts Set New Price Targets

Several brokerages have issued reports on FNV. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. HC Wainwright increased their price target on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Scotiabank increased their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Finally, Raymond James increased their price target on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.