Ameriprise Financial Inc. Sells 773 Shares of Franco-Nevada Co. (NYSE:FNV)

Ameriprise Financial Inc. lessened its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,700 shares of the basic materials company’s stock after selling 773 shares during the quarter. Ameriprise Financial Inc.’s holdings in Franco-Nevada were worth $8,872,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Essex Financial Services Inc. raised its holdings in shares of Franco-Nevada by 2.2% during the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock valued at $458,000 after acquiring an additional 84 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 93 shares in the last quarter. Mutual Advisors LLC raised its holdings in shares of Franco-Nevada by 4.0% during the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock valued at $309,000 after acquiring an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC raised its holdings in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after acquiring an additional 100 shares in the last quarter. Finally, Blossom Wealth Management raised its holdings in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on FNV shares. Raymond James upped their target price on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, April 4th. Scotiabank raised their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research report on Tuesday, March 11th. BMO Capital Markets assumed coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, UBS Group raised their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $162.75.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $164.53 on Wednesday. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $178.74. The business has a fifty day moving average price of $160.98 and a 200-day moving average price of $140.03. The company has a market capitalization of $31.68 billion, a PE ratio of -52.07, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same period last year, the company earned $0.76 earnings per share. The company’s revenue was up 43.5% on a year-over-year basis. On average, sell-side analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.92%. Franco-Nevada’s payout ratio is 47.50%.

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.