Franco-Nevada Co. (NYSE:FNV) Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.1% during the fourth quarter, Holdings Channel reports. The firm owned 1,701,250 shares of the basic materials company’s stock after selling 191,176 shares during the quarter. Beutel Goodman & Co Ltd.’s holdings in Franco-Nevada were worth $199,815,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Van ECK Associates Corp grew its stake in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock worth $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Franco-Nevada by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after acquiring an additional 132,465 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 3.3% in 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 acquiring an additional 107,043 shares during the period. EdgePoint Investment Group Inc. raised its position in Franco-Nevada by 19.4% in 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, Norges Bank acquired a new stake in Franco-Nevada during the 4th quarter worth $237,643,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. HC Wainwright lifted 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. TD Securities cut 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. Raymond James increased their price objective on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Finally, Scotiabank increased their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a report on Tuesday, March 11th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $155.50.

Franco-Nevada Price Performance

Shares of FNV stock opened at $155.36 on Friday. The business’s fifty day moving average price is $142.60 and its 200 day moving average price is $130.48. The firm has a market capitalization of $29.92 billion, a PE ratio of -49.16, a P/E/G ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $159.38.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 business 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 company posted $0.90 EPS. The business’s revenue for the quarter was up 5.8% on a year-over-year basis. Equities research analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders 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 dividend yield of 0.98%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

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.