Wells Fargo & Company MN Reduces Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Wells Fargo & Company MN trimmed its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,001 shares of the basic materials company’s stock after selling 1,003 shares during the quarter. Wells Fargo & Company MN’s holdings in Franco-Nevada were worth $3,994,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the 4th quarter valued at approximately $47,000. Physician Wealth Advisors Inc. acquired a new position in Franco-Nevada during the 4th quarter worth $49,000. Harbour Investments Inc. increased its holdings in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada in the 4th quarter valued at about $73,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock valued at $73,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $173.43 on Tuesday. The company has a market cap of $33.39 billion, a P/E ratio of -54.88, a PEG ratio of 9.78 and a beta of 0.68. The firm has a fifty day moving average of $151.01 and a two-hundred day moving average of $134.75. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating 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 company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same quarter in the previous year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada’s payout ratio is presently 53.15%.

Analysts Set New Price Targets

FNV has been the topic of a number of recent analyst reports. TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. BMO Capital Markets started coverage on Franco-Nevada in a research note on Wednesday, April 16th. They issued an “outperform” rating on the stock. Scotiabank upped their price objective on Franco-Nevada from $150.00 to $165.00 and gave the stock a “sector perform” rating in a research report on Monday, April 14th. UBS Group increased their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 11th. Finally, HC Wainwright boosted their target price on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.25.

Franco-Nevada Company 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.