JARISLOWSKY FRASER Ltd Sells 152,215 Shares of Franco-Nevada Co. (NYSE:FNV)

JARISLOWSKY FRASER Ltd reduced its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,219,986 shares of the basic materials company’s stock after selling 152,215 shares during the period. Franco-Nevada makes up approximately 2.2% of JARISLOWSKY FRASER Ltd’s investment portfolio, making the stock its 17th biggest position. JARISLOWSKY FRASER Ltd owned about 1.67% of Franco-Nevada worth $376,828,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada in the 4th quarter valued at about $47,000. Physician Wealth Advisors Inc. acquired a new stake in shares of Franco-Nevada during the 4th quarter worth approximately $49,000. Harbour Investments Inc. increased its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Franco-Nevada by 538.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company’s stock valued at $71,000 after purchasing an additional 512 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Franco-Nevada during the fourth quarter worth $73,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Raymond James lifted their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a report on Friday, April 4th. HC Wainwright increased their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. BMO Capital Markets assumed coverage on shares of Franco-Nevada in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, Scotiabank increased their price target on Franco-Nevada from $150.00 to $165.00 and gave the company a “sector perform” rating in a research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $162.25.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $168.66 on Friday. The firm has a market cap of $32.48 billion, a P/E ratio of -53.37, a P/E/G ratio of 9.78 and a beta of 0.45. The stock’s 50 day moving average is $159.01 and its 200 day moving average is $138.85. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same period in the prior year, the firm posted $0.76 EPS. The company’s quarterly revenue was up 43.5% on a year-over-year basis. Equities analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

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.