Cove Street Capital LLC Sells 500 Shares of Franco-Nevada Co. (NYSE:FNV)

Cove Street Capital LLC lowered its stake in shares of Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,500 shares of the basic materials company’s stock after selling 500 shares during the quarter. Cove Street Capital LLC’s holdings in Franco-Nevada were worth $2,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FNV. Sigma Planning Corp purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at about $337,000. TD Asset Management Inc increased its holdings in shares of Franco-Nevada by 0.4% in the third quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock valued at $299,425,000 after purchasing an additional 9,482 shares during the period. LPL Financial LLC grew its holdings in Franco-Nevada by 10.9% during the second quarter. LPL Financial LLC now owns 45,588 shares of the basic materials company’s stock worth $6,501,000 after acquiring an additional 4,494 shares during the period. Annex Advisory Services LLC boosted its position in Franco-Nevada by 14.1% during the third quarter. Annex Advisory Services LLC now owns 100,899 shares of the basic materials company’s stock worth $13,469,000 after purchasing an additional 12,481 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in shares of Franco-Nevada by 3.3% in the third quarter. First Eagle Investment Management LLC now owns 2,258,933 shares of the basic materials company’s stock valued at $301,557,000 after acquiring an additional 71,226 shares in the last quarter. Institutional investors and hedge funds own 66.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FNV. BMO Capital Markets dropped their target price on Franco-Nevada from $219.00 to $214.00 and set an “outperform” rating on the stock in a report on Tuesday, November 21st. Raymond James lowered their target price on Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 12th. Royal Bank of Canada cut their price objective on Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating for the company in a research report on Wednesday, November 1st. Scotiabank lowered their price objective on Franco-Nevada from $159.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Thursday, December 14th. Finally, TD Securities decreased their price objective on Franco-Nevada from $135.00 to $125.00 and set a “hold” rating on the stock in a research report on Thursday, November 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada has a consensus rating of “Hold” and a consensus target price of $152.75.

Read Our Latest Research Report on FNV

Franco-Nevada Stock Performance

Shares of NYSE FNV traded up $0.39 during midday trading on Monday, reaching $109.23. The stock had a trading volume of 716,549 shares, compared to its average volume of 645,697. The company has a market capitalization of $20.99 billion, a price-to-earnings ratio of 30.90, a price-to-earnings-growth ratio of 5.20 and a beta of 0.71. The stock has a 50-day moving average of $109.06 and a 200-day moving average of $124.94. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.32%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Wednesday, March 13th. Franco-Nevada’s payout ratio is presently 38.42%.

Franco-Nevada Profile

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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