Connor Clark & Lunn Investment Management Ltd. Trims Stock Position in Franco-Nevada Co. (NYSE:FNV)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 572,116 shares of the basic materials company’s stock after selling 106,800 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.30% of Franco-Nevada worth $67,145,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avantax Advisory Services Inc. boosted its position in Franco-Nevada by 5.7% in the 4th quarter. Avantax Advisory Services Inc. now owns 11,411 shares of the basic materials company’s stock worth $1,342,000 after purchasing an additional 614 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of Franco-Nevada by 1.5% in the 4th quarter. Moors & Cabot Inc. now owns 46,065 shares of the basic materials company’s stock valued at $5,417,000 after purchasing an additional 674 shares during the period. Inspire Advisors LLC boosted its holdings in Franco-Nevada by 6.6% during the fourth quarter. Inspire Advisors LLC now owns 4,014 shares of the basic materials company’s stock worth $472,000 after buying an additional 250 shares in the last quarter. Markel Group Inc. grew its position in Franco-Nevada by 39.9% during the fourth quarter. Markel Group Inc. now owns 483,250 shares of the basic materials company’s stock valued at $56,825,000 after buying an additional 137,750 shares during the period. Finally, Global View Capital Management LLC purchased a new position in Franco-Nevada in the fourth quarter valued at $392,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Scotiabank raised their price objective on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday. UBS Group upped their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. HC Wainwright lifted their price target on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average price target of $153.63.

Franco-Nevada Stock Up 1.1 %

Franco-Nevada stock opened at $147.39 on Thursday. The company has a fifty day simple moving average of $134.87 and a 200-day simple moving average of $127.60. The firm has a market capitalization of $28.38 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $148.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 1.03%. 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.