McCollum Christoferson Group LLC Sells 2,295 Shares of Franco-Nevada Co. (NYSE:FNV)

McCollum Christoferson Group LLC lessened its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,361 shares of the basic materials company’s stock after selling 2,295 shares during the quarter. McCollum Christoferson Group LLC’s holdings in Franco-Nevada were worth $3,805,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FNV. Van ECK Associates Corp lifted its holdings in shares of Franco-Nevada by 2.3% during 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 acquiring an additional 193,968 shares during the period. Vanguard Group Inc. increased its position in shares of Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after purchasing an additional 132,465 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Franco-Nevada by 3.3% during the 4th quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company’s stock valued at $395,113,000 after purchasing an additional 107,043 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Franco-Nevada by 19.4% during 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 purchasing an additional 537,047 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in Franco-Nevada by 2.2% in the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after buying an additional 29,512 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.2 %

Franco-Nevada stock opened at $155.85 on Monday. The business’s 50-day simple moving average is $139.63 and its 200 day simple moving average is $129.36. The stock has a market cap of $30.01 billion, a price-to-earnings ratio of -49.32, a P/E/G ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $157.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, sell-side analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current 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 given a dividend of $0.38 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. Franco-Nevada’s payout ratio is presently 53.15%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FNV. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. HC Wainwright boosted their price objective on Franco-Nevada from $155.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Royal Bank of Canada raised their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, Scotiabank lifted their price target on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.