Vontobel Holding Ltd. Sells 10,640 Shares of Franco-Nevada Co. (NYSE:FNV)

Vontobel Holding Ltd. decreased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 37.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,500 shares of the basic materials company’s stock after selling 10,640 shares during the quarter. Vontobel Holding Ltd.’s holdings in Franco-Nevada were worth $1,938,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its stake in Franco-Nevada by 3.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 2,234 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 73 shares during the period. IHT Wealth Management LLC increased its stake in shares of Franco-Nevada by 4.6% in the fourth quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 78 shares in the last quarter. Fortune Financial Advisors LLC increased its stake in shares of Franco-Nevada by 1.8% in the third quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock worth $598,000 after purchasing an additional 81 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Franco-Nevada by 1.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock valued at $626,000 after purchasing an additional 85 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Franco-Nevada by 0.6% during the 4th quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock valued at $2,247,000 after buying an additional 94 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FNV. Jefferies Financial Group began coverage on Franco-Nevada in a research note on Thursday, February 29th. They issued a “hold” rating and a $117.00 price target for the company. Scotiabank increased their target price on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America dropped their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Raymond James lifted 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. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and an average price target of $147.40.

Franco-Nevada Stock Performance

NYSE FNV opened at $121.44 on Friday. The stock has a 50 day moving average price of $114.12 and a 200-day moving average price of $116.17. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $161.25. The company has a market capitalization of $23.35 billion, a P/E ratio of -49.98, a P/E/G ratio of 6.61 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The business had revenue of $303.30 million during the quarter. As a group, equities analysts predict that Franco-Nevada Co. will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.19%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

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.