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

Bank of New York Mellon Corp lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 large investors also recently made changes to their positions in the company. Capital World Investors grew its position in 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 valued at $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Vanguard Group Inc. grew its position in Franco-Nevada by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock valued at $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can grew its position in Franco-Nevada by 0.3% in the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock valued at $622,124,000 after purchasing an additional 15,273 shares in the last quarter. EdgePoint Investment Group Inc. grew its position in Franco-Nevada by 49.9% in 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Franco-Nevada by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock valued at $504,069,000 after purchasing an additional 400,384 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Down 0.1%

Shares of NYSE FNV traded down $0.18 during mid-day trading on Friday, reaching $154.40. 433,837 shares of the company were exchanged, compared to its average volume of 750,096. The company's 50-day simple moving average is $164.95 and its 200-day simple moving average is $152.90. The stock has a market capitalization of $29.75 billion, a P/E ratio of 48.25, a P/E/G ratio of 2.14 and a beta of 0.41. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99.

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 earnings per share for the quarter, topping 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 analysts' expectations of $328.79 million. During the same quarter in the previous 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 expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FNV shares. Royal Bank Of Canada raised their target price 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. Raymond James Financial set a $186.00 price objective on shares of Franco-Nevada and gave the company an "outperform" rating in a research report on Wednesday, May 28th. HC Wainwright reissued a "buy" rating and issued a $195.00 price objective (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Finally, Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $172.13.

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.