Franco-Nevada Co. (NYSE:FNV) Stake Trimmed by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,461 shares of the basic materials company’s stock after selling 129 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Franco-Nevada were worth $10,155,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Covea Finance lifted its stake in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after acquiring an additional 2,700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Franco-Nevada by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock valued at $49,702,000 after buying an additional 16,029 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Franco-Nevada by 113.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after buying an additional 2,710 shares in the last quarter. Tri Ri Asset Management Corp acquired a new stake in shares of Franco-Nevada in the third quarter worth about $3,433,000. Finally, Horizon Kinetics Asset Management LLC boosted 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 acquiring an additional 52,199 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James upped their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. UBS Group upped their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. HC Wainwright lifted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

Franco-Nevada Stock Down 0.5 %

Shares of NYSE:FNV opened at $156.92 on Thursday. The firm has a market cap of $30.22 billion, a price-to-earnings ratio of -49.66, a PEG 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 $159.38. The company’s fifty day simple moving average is $144.31 and its 200 day simple moving average is $131.24.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $304.33 million. During the same period last year, the business earned $0.90 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Research 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 declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is 53.15%.

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.