St. James Investment Company LLC Has $15.58 Million Stake in Franco-Nevada Co. (NYSE:FNV)

St. James Investment Company LLC lowered its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 140,620 shares of the basic materials company’s stock after selling 19,695 shares during the quarter. Franco-Nevada accounts for about 2.5% of St. James Investment Company LLC’s investment portfolio, making the stock its 20th largest position. St. James Investment Company LLC owned about 0.07% of Franco-Nevada worth $15,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after buying an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Franco-Nevada by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock worth $1,393,843,000 after purchasing an additional 31,642 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Franco-Nevada by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after purchasing an additional 112,274 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Franco-Nevada by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock worth $357,915,000 after purchasing an additional 206,125 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Franco-Nevada by 69.9% during the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after purchasing an additional 1,102,710 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNV. Bank of America decreased their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank decreased their price objective on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group initiated coverage on Franco-Nevada in a research report on Thursday, February 29th. They set a “hold” rating and a $117.00 target price for the company. Raymond James raised their target price on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Hold” and an average target price of $147.30.

Franco-Nevada Trading Up 0.6 %

FNV traded up $0.69 during trading on Tuesday, hitting $117.10. The company’s stock had a trading volume of 234,075 shares, compared to its average volume of 738,199. The firm’s 50 day moving average price is $113.15 and its two-hundred day moving average price is $116.28. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million during the quarter. Analysts predict that Franco-Nevada Co. will post 2.75 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.23%. 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. Franco-Nevada’s payout ratio is presently -55.97%.

About Franco-Nevada

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.