Axxcess Wealth Management LLC Cuts Stock Position in Franco-Nevada Co. (NYSE:FNV)

Axxcess Wealth Management LLC cut its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,277 shares of the basic materials company’s stock after selling 216 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Franco-Nevada were worth $3,560,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FNV. Tocqueville Asset Management L.P. increased its holdings in Franco-Nevada by 1.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 159,439 shares of the basic materials company’s stock worth $18,748,000 after buying an additional 1,916 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Franco-Nevada by 5.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock worth $116,183,000 after purchasing an additional 52,199 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Franco-Nevada by 23.1% in the 4th quarter. Parallel Advisors LLC now owns 2,692 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 505 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in Franco-Nevada by 154.9% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 1,277 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 776 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after buying an additional 93 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 0.2 %

Franco-Nevada stock opened at $154.31 on Wednesday. The business has a 50-day simple moving average of $137.96 and a 200 day simple moving average of $128.62. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $156.82. The stock has a market cap of $29.71 billion, a price-to-earnings ratio of -48.83, a PEG 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 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the prior year, the business earned $0.90 earnings per share. Franco-Nevada’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

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

Analyst Ratings Changes

FNV has been the subject of several research reports. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. Raymond James lifted their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 11th. UBS Group boosted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. HC Wainwright raised their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $153.63.

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.