Franco-Nevada Co. (NYSE:FNV) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. trimmed its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,701,250 shares of the basic materials company’s stock after selling 191,176 shares during the period. Beutel Goodman & Co Ltd. owned approximately 0.88% of Franco-Nevada worth $199,815,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth about $47,000. Point72 DIFC Ltd purchased a new position in Franco-Nevada during the third quarter worth about $52,000. Erste Asset Management GmbH acquired a new stake in shares of Franco-Nevada during the third quarter valued at about $55,000. Harbour Investments Inc. raised its stake in shares of Franco-Nevada by 25.8% in 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. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on FNV shares. Raymond James boosted their target price on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Scotiabank raised their target price on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. Finally, HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.50.

Franco-Nevada Trading Down 1.2 %

Shares of NYSE:FNV opened at $155.36 on Friday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $159.38. The company’s 50 day moving average is $142.60 and its two-hundred day moving average is $130.48. The company has a market cap of $29.92 billion, a PE ratio of -49.16, a P/E/G ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were 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 of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s payout ratio is presently 53.15%.

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.