Bessemer Group Inc. Buys 12,350 Shares of Franco-Nevada Corporation (NYSE:FNV)

Bessemer Group Inc. boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1,583.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,130 shares of the basic materials company's stock after acquiring an additional 12,350 shares during the quarter. Bessemer Group Inc.'s holdings in Franco-Nevada were worth $2,067,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in FNV. Confluence Investment Management LLC lifted its position in Franco-Nevada by 1.5% during the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock valued at $926,000 after purchasing an additional 84 shares during the period. Harbour Investments Inc. lifted its position in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after purchasing an additional 93 shares during the period. CoreCommodity Management LLC lifted its position in Franco-Nevada by 2.9% during the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock valued at $455,000 after purchasing an additional 108 shares during the period. Quadcap Wealth Management LLC lifted its position in Franco-Nevada by 4.0% during the 4th quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock valued at $374,000 after purchasing an additional 121 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in Franco-Nevada by 25.6% during the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 126 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE:FNV opened at $161.27 on Friday. The company has a market capitalization of $31.07 billion, a price-to-earnings ratio of 50.40, a P/E/G ratio of 2.24 and a beta of 0.42. The firm's 50 day simple moving average is $167.44 and its 200 day simple moving average is $149.00. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.

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 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business's quarterly revenue was up 43.5% on a year-over-year basis. During the same period last year, the company posted $0.76 EPS. Equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.94%. Franco-Nevada's dividend payout ratio (DPR) is currently 47.50%.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of research reports. UBS Group upped their target price 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. Royal Bank Of Canada upped 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. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research report on Tuesday, March 11th. Scotiabank increased their price target 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. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

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