Swiss National Bank Decreases Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Swiss National Bank lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 624,460 shares of the basic materials company’s stock after selling 18,600 shares during the period. Swiss National Bank owned about 0.32% of Franco-Nevada worth $69,297,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FNV. Victory Capital Management Inc. grew its stake in shares of Franco-Nevada by 0.5% in the fourth quarter. Victory Capital Management Inc. now owns 2,694,440 shares of the basic materials company’s stock worth $298,571,000 after purchasing an additional 13,225 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Franco-Nevada by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after buying an additional 789,070 shares during the last quarter. Intact Investment Management Inc. increased its stake in shares of Franco-Nevada by 191.1% during the fourth quarter. Intact Investment Management Inc. now owns 106,910 shares of the basic materials company’s stock valued at $11,842,000 after buying an additional 70,180 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of Franco-Nevada by 7.1% during the fourth quarter. Russell Investments Group Ltd. now owns 124,688 shares of the basic materials company’s stock valued at $13,879,000 after acquiring an additional 8,311 shares in the last quarter. Finally, Meixler Investment Management Ltd. lifted its stake in Franco-Nevada by 5.1% in the fourth quarter. Meixler Investment Management Ltd. now owns 10,324 shares of the basic materials company’s stock worth $1,144,000 after acquiring an additional 499 shares during the period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $123.25 on Monday. The business has a fifty day moving average price of $116.74 and a 200-day moving average price of $114.92. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.08. The firm had revenue of $256.80 million for the quarter, compared to the consensus estimate of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The business’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.79 earnings per share. As a group, equities analysts anticipate that Franco-Nevada Co. will post 2.97 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s payout ratio is -54.62%.

Analyst Ratings Changes

A number of research analysts have issued reports on FNV shares. Scotiabank boosted their price objective on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Bank of America decreased their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Raymond James lifted their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group increased their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and a consensus price target of $148.60.

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.