Lafayette Investments Inc. Takes Position in Franco-Nevada Corporation (NYSE:FNV)

Lafayette Investments Inc. bought a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,286 shares of the basic materials company's stock, valued at approximately $360,000.

A number of other large investors have also made changes to their positions in the company. Norges Bank purchased a new position in Franco-Nevada during the fourth quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after acquiring an additional 1,650,358 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares in the last quarter. Capital World Investors increased its stake in shares of Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after acquiring an additional 711,591 shares during the last quarter. Finally, Proficio Capital Partners LLC raised its holdings in shares of Franco-Nevada by 11,659.0% during the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after acquiring an additional 478,602 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Trading Down 0.3%

FNV traded down $0.56 during midday trading on Tuesday, reaching $163.36. The company's stock had a trading volume of 492,823 shares, compared to its average volume of 743,616. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99. The stock has a market cap of $31.47 billion, a P/E ratio of 51.05, a PEG ratio of 2.24 and a beta of 0.42. The company has a fifty day simple moving average of $167.26 and a 200 day simple moving average of $149.51.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the previous year, the firm posted $0.76 earnings per share. Franco-Nevada's revenue was up 43.5% compared to the same quarter last year. Sell-side analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is presently 47.50%.

Analyst Ratings Changes

Several research analysts have weighed in on FNV shares. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Royal Bank Of Canada raised their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Finally, Scotiabank raised their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a report on Monday, May 12th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average price target of $169.63.

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.