Allspring Global Investments Holdings LLC Purchases 4,000 Shares of Franco-Nevada Corporation (NYSE:FNV)

Allspring Global Investments Holdings LLC grew its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 100,948 shares of the basic materials company's stock after acquiring an additional 4,000 shares during the period. Allspring Global Investments Holdings LLC owned 0.05% of Franco-Nevada worth $15,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Franco-Nevada in the 4th quarter worth $237,643,000. EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada by 49.9% during the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after purchasing an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after buying an additional 828,166 shares in the last quarter. Capital World Investors raised 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 buying an additional 711,591 shares during the period. Finally, BLI Banque de Luxembourg Investments purchased a new position in shares of Franco-Nevada during the 4th quarter valued at about $52,857,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FNV shares. UBS Group increased their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday. HC Wainwright reissued a "buy" rating and issued a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Scotiabank raised their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $172.13.

Franco-Nevada Stock Up 0.7%

FNV stock traded up $1.10 during mid-day trading on Friday, hitting $165.54. The company had a trading volume of 395,450 shares, compared to its average volume of 747,510. The company has a 50-day moving average price of $166.74 and a 200 day moving average price of $150.59. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $179.99. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 51.73, a P/E/G ratio of 2.26 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. The company had revenue of $368.40 million for the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 earnings per share. As a group, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.92%. Franco-Nevada's dividend payout ratio (DPR) is presently 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.