Hunter Associates Investment Management LLC Sells 1,150 Shares of Franco-Nevada Co. (NYSE:FNV)

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

A number of other large investors also recently modified their holdings of the company. Euro Pacific Asset Management LLC lifted its stake in shares of Franco-Nevada by 20.7% in the 4th quarter. Euro Pacific Asset Management LLC now owns 129,779 shares of the basic materials company’s stock valued at $14,380,000 after acquiring an additional 22,243 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Franco-Nevada by 50.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 183,135 shares of the basic materials company’s stock worth $20,384,000 after purchasing an additional 61,354 shares during the last quarter. Desjardins Global Asset Management Inc. bought a new position in Franco-Nevada during the 4th quarter worth $2,524,000. Mackenzie Financial Corp raised its position in Franco-Nevada by 15.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after purchasing an additional 198,144 shares during the last quarter. Finally, Sapient Capital LLC bought a new position in Franco-Nevada during the 4th quarter worth $1,674,000. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on FNV shares. Bank of America lowered their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Jefferies Financial Group began 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 increased their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Scotiabank increased their price target on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $147.40.

Franco-Nevada Stock Performance

Shares of FNV traded down $0.20 during trading hours on Friday, hitting $121.47. The stock had a trading volume of 829,352 shares, compared to its average volume of 635,657. The firm 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 issued its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. On average, equities research analysts predict that Franco-Nevada Co. will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

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

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.