Spire Wealth Management Increases Stock Position in Franco-Nevada Co. (NYSE:FNV)

Spire Wealth Management raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,033 shares of the basic materials company’s stock after purchasing an additional 344 shares during the period. Spire Wealth Management’s holdings in Franco-Nevada were worth $357,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Franco-Nevada by 76.5% in the third 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 acquiring an additional 556,894 shares during the period. EdgePoint Investment Group Inc. lifted its stake in shares of Franco-Nevada by 19.4% in 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 purchasing an additional 537,047 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of 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 buying an additional 424,810 shares during the last quarter. Two Sigma Advisers LP grew its position in Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after buying an additional 359,900 shares during the period. Finally, CWA Asset Management Group LLC purchased a new stake in Franco-Nevada during the third quarter valued at approximately $19,875,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group cut their price target on Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. HC Wainwright reiterated a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a research report on Tuesday, January 28th. Finally, Scotiabank reduced their price objective on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Stock Up 0.0 %

FNV stock opened at $141.72 on Friday. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $142.32. The firm has a 50-day simple moving average of $124.78 and a 200-day simple moving average of $124.61. The stock has a market capitalization of $27.29 billion, a P/E ratio of -44.85, a P/E/G ratio of 6.12 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted 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 business had revenue of $275.70 million during the quarter, compared to analysts’ expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business’s quarterly revenue was down 10.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.91 earnings per share. On average, analysts expect that Franco-Nevada Co. will post 3.19 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is presently -45.57%.

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.