Bank of New York Mellon Corp Has $27.71 Million Stake in Franco-Nevada Corporation (NYSE:FNV)

Bank of New York Mellon Corp boosted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 175,843 shares of the basic materials company's stock after acquiring an additional 4,838 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Franco-Nevada worth $27,706,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CX Institutional acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $30,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $35,000. Golden State Wealth Management LLC boosted its holdings in shares of Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after acquiring an additional 115 shares in the last quarter. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada in the 4th quarter worth approximately $49,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on FNV. UBS Group upped their price objective on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada increased their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $172.13.

Franco-Nevada Trading Down 0.1%

Shares of NYSE FNV traded down $0.18 during mid-day trading on Friday, hitting $154.40. The company had a trading volume of 450,316 shares, compared to its average volume of 752,978. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $179.99. The company has a market capitalization of $29.74 billion, a PE ratio of 48.25, a price-to-earnings-growth ratio of 2.08 and a beta of 0.41. The firm has a 50-day simple moving average of $164.67 and a two-hundred day simple moving average of $153.40.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $328.79 million. During the same period last year, the business posted $0.76 EPS. Franco-Nevada's revenue was up 43.5% on a year-over-year basis. Sell-side analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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 annualized dividend and a yield of 0.98%. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

About Franco-Nevada

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.