Berkeley Capital Partners LLC Sells 587 Shares of Franco-Nevada Co. (NYSE:FNV)

Berkeley Capital Partners LLC lowered its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,429 shares of the basic materials company’s stock after selling 587 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Franco-Nevada were worth $1,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $221,351,000. First Eagle Investment Management LLC lifted its position in shares of Franco-Nevada by 39.5% during the 4th quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock valued at $348,940,000 after buying an additional 891,164 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Franco-Nevada by 9.9% during the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock valued at $972,707,000 after acquiring an additional 789,070 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Franco-Nevada by 5.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock worth $1,219,807,000 after acquiring an additional 566,539 shares in the last quarter. Finally, M&G Investment Management Ltd. raised its stake in Franco-Nevada by 39.6% during the 4th quarter. M&G Investment Management Ltd. now owns 1,943,352 shares of the basic materials company’s stock worth $215,604,000 after acquiring an additional 550,855 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FNV. HC Wainwright raised their price target on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Scotiabank boosted their price target 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. Raymond James increased their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Bank of America reduced their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Finally, Jefferies Financial Group increased their price target on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Stock Up 0.5 %

Shares of Franco-Nevada stock traded up $0.59 during trading on Monday, reaching $129.07. The company’s stock had a trading volume of 478,208 shares, compared to its average volume of 710,243. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $153.40. The company has a 50-day simple moving average of $120.62 and a two-hundred day simple moving average of $114.51. The company has a market cap of $24.82 billion, a price-to-earnings ratio of -51.84, a P/E/G ratio of 6.13 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. During the same quarter last year, the business posted $0.79 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Co. will post 3.17 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 given a $0.36 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 1.12%. Franco-Nevada’s dividend payout ratio is presently -57.43%.

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.