Franco-Nevada Co. (NYSE:FNV) Shares Sold by CWA Asset Management Group LLC

CWA Asset Management Group LLC decreased its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 148,668 shares of the basic materials company’s stock after selling 11,295 shares during the quarter. Franco-Nevada makes up 0.9% of CWA Asset Management Group LLC’s portfolio, making the stock its 22nd biggest position. CWA Asset Management Group LLC’s holdings in Franco-Nevada were worth $17,482,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in Franco-Nevada by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after buying an additional 64,429 shares during the period. Victory Capital Management Inc. increased its position in shares of Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Franco-Nevada by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after purchasing an additional 47,311 shares during the period. Finally, M&G PLC grew its stake in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after buying an additional 51,996 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FNV. Jefferies Financial Group cut their target price on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group started coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. HC Wainwright lowered their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price target for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Stock Performance

FNV traded down $0.68 during mid-day trading on Monday, reaching $121.73. The stock had a trading volume of 61,756 shares, compared to its average volume of 415,840. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $137.60. The firm’s fifty day simple moving average is $122.19 and its two-hundred day simple moving average is $123.37. The stock has a market capitalization of $23.43 billion, a P/E ratio of -38.52 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period in the previous year, the business posted $0.91 earnings per share. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, analysts expect that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.