Drummond Knight Asset Management Pty Ltd Invests $6.60 Million in Franco-Nevada Co. (NYSE:FNV)

Drummond Knight Asset Management Pty Ltd acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 56,091 shares of the basic materials company's stock, valued at approximately $6,596,000. Franco-Nevada comprises approximately 4.8% of Drummond Knight Asset Management Pty Ltd's holdings, making the stock its 10th largest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Essex Financial Services Inc. raised its position in Franco-Nevada by 2.2% in the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock valued at $458,000 after purchasing an additional 84 shares in the last quarter. Harbour Investments Inc. raised its position in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares in the last quarter. Mutual Advisors LLC raised its position in Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after purchasing an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC raised its position in Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after purchasing an additional 100 shares in the last quarter. Finally, Blossom Wealth Management raised its position in Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Trading Down 6.7%

Shares of Franco-Nevada stock traded down $11.40 during trading on Monday, reaching $157.83. The company's stock had a trading volume of 668,171 shares, compared to its average volume of 714,728. The firm has a market cap of $30.39 billion, a PE ratio of -50.00, a P/E/G ratio of 9.78 and a beta of 0.45. The company has a 50-day moving average price of $159.01 and a two-hundred day moving average price of $138.87. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's revenue was up 43.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. On average, analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Analysts Set New Price Targets

FNV has been the topic of a number of analyst reports. Raymond James increased their price target on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. UBS Group increased their price target on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Scotiabank boosted their target price on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research note on Monday. Finally, HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Six analysts have rated the stock with a hold rating and eight have issued 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 $162.75.

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.