Franco-Nevada Co. (NYSE:FNV) is Susquehanna Portfolio Strategies LLC’s Largest Position

Susquehanna Portfolio Strategies LLC lowered its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 81,584 shares of the basic materials company’s stock after selling 14,412 shares during the period. Franco-Nevada accounts for 32.3% of Susquehanna Portfolio Strategies LLC’s holdings, making the stock its biggest position. Susquehanna Portfolio Strategies LLC’s holdings in Franco-Nevada were worth $9,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. raised 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 buying an additional 16,029 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company’s stock worth $113,200,000 after buying an additional 45,495 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock worth $601,000 after buying an additional 2,710 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Franco-Nevada in the fourth quarter worth $12,280,000. Finally, Horizon Kinetics Asset Management LLC raised its holdings in shares of Franco-Nevada by 5.6% in 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. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of several recent research reports. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, March 11th. UBS Group raised their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Raymond James raised their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.75.

Franco-Nevada Stock Performance

FNV stock opened at $159.08 on Friday. The firm has a market cap of $30.63 billion, a PE ratio of -50.34, a P/E/G ratio of 9.78 and a beta of 0.45. The firm’s fifty day moving average is $160.40 and its 200 day moving average is $139.60. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter last year, the business earned $0.76 earnings per share. The firm’s revenue was up 43.5% on a year-over-year basis. Research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.96%. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

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.