Hunter Associates Investment Management LLC Cuts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Hunter Associates Investment Management LLC decreased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,317 shares of the basic materials company’s stock after selling 1,150 shares during the quarter. Hunter Associates Investment Management LLC’s holdings in Franco-Nevada were worth $920,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. VisionPoint Advisory Group LLC purchased a new stake in shares of Franco-Nevada during the third quarter valued at approximately $30,000. Castleview Partners LLC purchased a new stake in shares of Franco-Nevada during the third quarter valued at approximately $33,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $34,000. State of Wyoming purchased a new stake in Franco-Nevada in the fourth quarter worth approximately $38,000. Finally, Allworth Financial LP grew its position in Franco-Nevada by 5,750.0% in the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.2 %

Shares of Franco-Nevada stock traded down $0.20 on Friday, hitting $121.47. 829,352 shares of the company’s stock were exchanged, compared to its average volume of 635,657. The company has a 50-day simple moving average of $114.12 and a 200-day simple moving average of $116.17. 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 released its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million for the quarter. As a group, equities analysts anticipate that Franco-Nevada Co. will post 2.76 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.36 per share. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. Franco-Nevada’s payout ratio is -55.97%.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research analyst reports. Raymond James lifted their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Scotiabank lifted their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday. Jefferies Financial Group initiated coverage on shares of Franco-Nevada in a research report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price for the company. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Finally, Bank of America cut their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $147.40.

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.