Carrhae Capital LLP Decreases Stock Position in Franco-Nevada Co. (NYSE:FNV)

Carrhae Capital LLP trimmed its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 206,418 shares of the basic materials company’s stock after selling 17,666 shares during the period. Franco-Nevada makes up about 2.0% of Carrhae Capital LLP’s investment portfolio, making the stock its 14th largest holding. Carrhae Capital LLP owned 0.11% of Franco-Nevada worth $24,273,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the fourth quarter valued at $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada in the 3rd quarter worth about $52,000. Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% during the 4th 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 during the period. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada during the 3rd quarter valued at about $55,000. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Franco-Nevada in the fourth quarter worth approximately $73,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.0 %

NYSE FNV opened at $155.76 on Tuesday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $157.71. The company has a market capitalization of $29.99 billion, a P/E ratio of -49.29, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The stock’s 50-day moving average price is $140.26 and its 200-day moving average price is $129.61.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. Franco-Nevada’s payout ratio is 53.15%.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research analyst reports. HC Wainwright increased their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Raymond James increased their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Royal Bank of Canada lifted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. Finally, TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada 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.