Adalta Capital Management LLC Raises Stake in Franco-Nevada Co. (NYSE:FNV)

Adalta Capital Management LLC boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 25.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,216 shares of the basic materials company's stock after acquiring an additional 2,677 shares during the quarter. Franco-Nevada comprises about 0.8% of Adalta Capital Management LLC's investment portfolio, making the stock its 26th biggest position. Adalta Capital Management LLC's holdings in Franco-Nevada were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Barclays PLC raised its position in Franco-Nevada by 29.4% in the 3rd quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock worth $4,450,000 after purchasing an additional 8,147 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Franco-Nevada by 2.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 7,528 shares of the basic materials company's stock valued at $884,000 after purchasing an additional 203 shares during the period. Crossmark Global Holdings Inc. increased its stake in Franco-Nevada by 3.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 9,387 shares of the basic materials company's stock worth $1,104,000 after buying an additional 326 shares during the period. SG Americas Securities LLC boosted its position in Franco-Nevada by 3.3% in the 4th quarter. SG Americas Securities LLC now owns 36,643 shares of the basic materials company's stock valued at $4,309,000 after buying an additional 1,168 shares during the period. Finally, Janney Montgomery Scott LLC increased its position in shares of Franco-Nevada by 1.7% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,286 shares of the basic materials company's stock worth $1,680,000 after acquiring an additional 241 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. BMO Capital Markets assumed coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James lifted their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a report on Friday, April 4th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. UBS Group increased their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Finally, HC Wainwright increased their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $162.75.

Franco-Nevada Stock Performance

NYSE FNV traded up $3.97 on Friday, reaching $168.00. 483,799 shares of the company's stock traded hands, compared to its average volume of 725,214. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74. The firm has a market cap of $32.35 billion, a price-to-earnings ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45. The stock has a 50 day moving average price of $161.70 and a 200-day moving average price of $140.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. During the same quarter last year, the company earned $0.76 EPS. The business's revenue was up 43.5% on a year-over-year basis. As a group, equities research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced 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 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is 47.50%.

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.