SVB Wealth LLC Sells 238 Shares of Franco-Nevada Co. (NYSE:FNV)

SVB Wealth LLC decreased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,940 shares of the basic materials company’s stock after selling 238 shares during the quarter. SVB Wealth LLC’s holdings in Franco-Nevada were worth $215,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FNV. Quadrature Capital Ltd boosted its stake in Franco-Nevada by 119.3% during the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock valued at $78,184,000 after purchasing an additional 316,600 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in Franco-Nevada by 270.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock valued at $54,414,000 after purchasing an additional 296,169 shares during the period. FMR LLC boosted its stake in Franco-Nevada by 1.3% during the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after purchasing an additional 208,392 shares during the period. Victory Capital Management Inc. boosted its stake in Franco-Nevada by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock valued at $357,915,000 after purchasing an additional 206,125 shares during the period. Finally, Gabelli Funds LLC boosted its stake in Franco-Nevada by 75.5% during the 3rd quarter. Gabelli Funds LLC now owns 472,460 shares of the basic materials company’s stock valued at $63,189,000 after purchasing an additional 203,300 shares during the period. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Scotiabank upped their price target on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Bank of America cut their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Jefferies Financial Group upped their price target on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday. Finally, TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of “Hold” and an average price target of $148.60.

Franco-Nevada Trading Down 2.7 %

Shares of FNV opened at $118.17 on Tuesday. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25. The stock has a 50 day simple moving average of $114.30 and a 200-day simple moving average of $115.90. The stock has a market cap of $22.73 billion, a PE ratio of -48.63, a PEG ratio of 6.66 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million during the quarter. On average, sell-side analysts forecast that Franco-Nevada Co. will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a yield of 1.22%. Franco-Nevada’s dividend payout ratio is -55.97%.

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.