Flagship Harbor Advisors LLC boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,715 shares of the basic materials company’s stock after purchasing an additional 122 shares during the period. Flagship Harbor Advisors LLC’s holdings in Franco-Nevada were worth $319,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after purchasing an additional 556,894 shares during the period. EdgePoint Investment Group Inc. grew its position in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after buying an additional 537,047 shares during the period. Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% in the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after acquiring an additional 424,810 shares during the period. Two Sigma Advisers LP raised its position in Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after acquiring an additional 359,900 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Franco-Nevada by 4,361.2% during the 2nd quarter. Clearbridge Investments LLC now owns 275,571 shares of the basic materials company’s stock worth $32,659,000 after acquiring an additional 269,394 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research note on Tuesday. Scotiabank lowered their price objective 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. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group began coverage on shares of Franco-Nevada in a report on Monday, November 18th. They set a “buy” rating and a $160.00 price target on the stock. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.33.
Franco-Nevada Stock Up 0.2 %
Shares of FNV stock opened at $130.90 on Thursday. The stock has a market cap of $25.20 billion, a P/E ratio of -41.42, a PEG ratio of 7.08 and a beta of 0.72. The company’s fifty day simple moving average is $122.89 and its two-hundred day simple moving average is $124.12. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $137.60.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.91 EPS. On average, analysts anticipate that Franco-Nevada Co. will post 3.18 EPS for the current fiscal year.
Franco-Nevada Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is -45.57%.
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.
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