HighTower Advisors LLC Sells 13,637 Shares of Franco-Nevada Co. (NYSE:FNV)

HighTower Advisors LLC decreased its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 16.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,433 shares of the basic materials company’s stock after selling 13,637 shares during the period. HighTower Advisors LLC’s holdings in Franco-Nevada were worth $8,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after buying an additional 556,894 shares during the period. EdgePoint Investment Group Inc. raised its stake in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after buying an additional 537,047 shares during the period. Proficio Capital Partners LLC raised its stake in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after buying an additional 478,602 shares during the period. Two Sigma Advisers LP raised its stake in Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after buying an additional 359,900 shares during the period. Finally, Van ECK Associates Corp raised its stake in Franco-Nevada by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after buying an additional 193,968 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research note on Tuesday, March 11th. Royal Bank of Canada increased their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Raymond James increased their target price on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. Finally, Scotiabank increased their target price on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research note on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $154.26 on Tuesday. The stock’s fifty day moving average price is $137.34 and its two-hundred day moving average price is $128.39. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $155.97. The firm has a market cap of $29.70 billion, a PE ratio of -48.82, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio (DPR) is currently 53.15%.

Franco-Nevada Company 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.