Swiss National Bank Lowers Holdings in Franco-Nevada Co. (NYSE:FNV)

Swiss National Bank reduced its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.9% in the 4th quarter, Holdings Channel reports. The fund owned 624,460 shares of the basic materials company’s stock after selling 18,600 shares during the period. Swiss National Bank’s holdings in Franco-Nevada were worth $69,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $30,000. Castleview Partners LLC purchased a new position in Franco-Nevada in the third quarter valued at $33,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Franco-Nevada in the fourth quarter worth about $34,000. Allworth Financial LP boosted its stake in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 345 shares in the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $71,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FNV shares. 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. Bank of America reduced their target price 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. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Scotiabank upped their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from 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 opened at $123.25 on Monday. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $161.25. The company’s 50-day moving average price is $116.74 and its 200-day moving average price is $114.92.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period last year, the company posted $0.79 EPS. On average, research analysts expect that Franco-Nevada Co. will post 2.97 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is currently -54.62%.

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.