Franco-Nevada Co. (NYSE:FNV) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC cut its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,894 shares of the basic materials company’s stock after selling 111 shares during the period. Bleakley Financial Group LLC’s holdings in Franco-Nevada were worth $210,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FNV. BlackRock Inc. boosted its holdings in shares of Franco-Nevada by 3.3% in the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock valued at $61,693,000 after buying an additional 12,446 shares during the period. Raymond James Trust N.A. boosted its holdings in shares of Franco-Nevada by 10.2% in the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock valued at $318,000 after buying an additional 184 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Franco-Nevada by 23.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock valued at $11,035,000 after buying an additional 12,993 shares during the period. Aviva PLC boosted its holdings in shares of Franco-Nevada by 5.8% in the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock valued at $10,040,000 after buying an additional 3,438 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Franco-Nevada by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock valued at $1,014,271,000 after buying an additional 141,139 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 0.6 %

Shares of NYSE:FNV opened at $117.08 on Wednesday. The company has a 50 day moving average of $113.35 and a 200-day moving average of $116.17. The firm has a market cap of $22.50 billion, a P/E ratio of -48.18, a P/E/G ratio of 6.49 and a beta of 0.71. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. Equities research analysts forecast that Franco-Nevada Co. will post 2.75 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.36 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s payout ratio is presently -55.97%.

Analysts Set New Price Targets

A number of research analysts have issued reports on FNV shares. Jefferies Financial Group started coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 target price for the company. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Scotiabank reduced their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating for the company in a research note on Thursday, March 7th. Bank of America reduced their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Raymond James boosted their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Hold” and an average price target of $147.30.

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.