Vanguard Group Inc. Boosts Position in Franco-Nevada Corporation (NYSE:FNV)

Vanguard Group Inc. boosted its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,845,339 shares of the basic materials company's stock after purchasing an additional 45,924 shares during the period. Vanguard Group Inc. owned about 4.07% of Franco-Nevada worth $1,233,891,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Atria Wealth Solutions Inc. increased its stake in Franco-Nevada by 22.9% in the 1st quarter. Atria Wealth Solutions Inc. now owns 16,325 shares of the basic materials company's stock worth $2,572,000 after purchasing an additional 3,043 shares during the period. Scotia Capital Inc. increased its stake in shares of Franco-Nevada by 2.1% during the first quarter. Scotia Capital Inc. now owns 144,821 shares of the basic materials company's stock valued at $22,745,000 after buying an additional 3,009 shares during the period. Cheviot Value Management LLC purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $88,000. Bank of Nova Scotia Trust Co. increased its stake in shares of Franco-Nevada by 6.1% during the first quarter. Bank of Nova Scotia Trust Co. now owns 71,450 shares of the basic materials company's stock valued at $11,258,000 after buying an additional 4,125 shares during the period. Finally, J. Safra Sarasin Holding AG purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $217,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of several research analyst reports. HC Wainwright boosted their target price on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada lifted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. UBS Group lifted their price target on Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Raymond James Financial lifted their price target on Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday. Finally, National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded up $1.06 during midday trading on Friday, reaching $178.43. 136,783 shares of the company's stock traded hands, compared to its average volume of 831,732. The company has a market cap of $34.37 billion, a price-to-earnings ratio of 43.77, a P/E/G ratio of 2.38 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $180.98. The stock has a 50 day moving average of $164.82 and a 200 day moving average of $158.51.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%. The company's quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Sell-side analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio is 37.35%.

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.