SVB Wealth LLC Cuts Position in Franco-Nevada Co. (NYSE:FNV)

SVB Wealth LLC trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,940 shares of the basic materials company’s stock after selling 238 shares during the quarter. SVB Wealth LLC’s holdings in Franco-Nevada were worth $215,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. VisionPoint Advisory Group LLC acquired a new stake in shares of Franco-Nevada in the third quarter valued at about $30,000. Castleview Partners LLC acquired a new stake in shares of Franco-Nevada in the third quarter valued at about $33,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at about $34,000. Allworth Financial LP grew its stake in shares of Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in shares of Franco-Nevada by 209.0% in the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after buying an additional 209 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

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

Franco-Nevada Trading Down 2.7 %

Shares of NYSE FNV opened at $118.17 on Tuesday. The company has a market cap of $22.73 billion, a price-to-earnings ratio of -48.63, a price-to-earnings-growth ratio of 6.66 and a beta of 0.71. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The stock’s 50 day simple moving average is $114.30 and its 200 day simple moving average is $115.90.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, equities analysts forecast that Franco-Nevada Co. will post 2.76 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared 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. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.22%. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

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.