Confluence Investment Management LLC Has $681,000 Stake in Franco-Nevada Co. (NYSE:FNV)

Confluence Investment Management LLC increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,790 shares of the basic materials company’s stock after purchasing an additional 465 shares during the period. Confluence Investment Management LLC’s holdings in Franco-Nevada were worth $681,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in FNV. Massachusetts Financial Services Co. MA boosted its position in shares of Franco-Nevada by 0.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after buying an additional 64,429 shares during the period. Victory Capital Management Inc. lifted its stake in Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares in the last quarter. EdgePoint Investment Group Inc. boosted its position in Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares during the last quarter. First Eagle Investment Management LLC grew its stake in shares of Franco-Nevada by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock worth $386,597,000 after acquiring an additional 47,311 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Franco-Nevada by 4.5% in the second quarter. TD Asset Management Inc now owns 1,725,976 shares of the basic materials company’s stock valued at $204,592,000 after purchasing an additional 74,145 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 3.0 %

FNV opened at $121.13 on Friday. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $137.60. The business has a 50 day moving average of $122.45 and a 200-day moving average of $123.23. The stock has a market cap of $23.32 billion, a price-to-earnings ratio of -38.33 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same period in the prior year, the business earned $0.91 EPS. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.36 dividend. The ex-dividend date was Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. Franco-Nevada’s dividend payout ratio (DPR) is currently -45.57%.

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent research reports. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. HC Wainwright decreased their price objective on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a report on Friday, December 20th. UBS Group initiated coverage on Franco-Nevada in a research report on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank lowered their price target on Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $145.33.

Franco-Nevada 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.