Cresset Asset Management LLC Has $276,000 Stock Position in Franco-Nevada Co. (NYSE:FNV)

Cresset Asset Management LLC reduced its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 67.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,343 shares of the basic materials company’s stock after selling 4,922 shares during the quarter. Cresset Asset Management LLC’s holdings in Franco-Nevada were worth $276,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Charles Schwab Investment Management Inc. lifted its holdings in shares of Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock worth $49,702,000 after acquiring an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. increased its position in Franco-Nevada by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company’s stock worth $113,200,000 after purchasing an additional 45,495 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Franco-Nevada by 113.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after purchasing an additional 2,710 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Franco-Nevada in the fourth quarter valued at approximately $12,280,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of Franco-Nevada by 5.6% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock worth $116,183,000 after buying an additional 52,199 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

NYSE:FNV opened at $159.08 on Friday. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74. The company has a 50 day simple moving average of $160.40 and a two-hundred day simple moving average of $139.60. The company has a market capitalization of $30.63 billion, a PE ratio of -50.34, a P/E/G ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $368.40 million during the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.76 earnings per share. Research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, June 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research reports. Scotiabank increased their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, March 11th. HC Wainwright boosted their price target on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Royal Bank of Canada upped their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $162.75.

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.