Massachusetts Financial Services Co. MA Purchases 207,232 Shares of Franco-Nevada Corporation (NYSE:FNV)

Massachusetts Financial Services Co. MA lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,207,413 shares of the basic materials company's stock after buying an additional 207,232 shares during the quarter. Massachusetts Financial Services Co. MA owned about 6.34% of Franco-Nevada worth $1,923,400,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FNV. SBI Securities Co. Ltd. grew its position in Franco-Nevada by 10.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock valued at $108,000 after purchasing an additional 64 shares during the period. Confluence Investment Management LLC grew its position in Franco-Nevada by 1.5% in 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. grew its position in Franco-Nevada by 25.8% in 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 grew its position in Franco-Nevada by 2.9% in 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. Finally, Trust Co. of Vermont grew its position in Franco-Nevada by 10.0% in the 1st quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock valued at $199,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. UBS Group lifted their price target on shares of 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 set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. HC Wainwright restated a "buy" rating and set 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 Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Finally, Royal Bank Of Canada raised their price objective 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus price target of $172.13.

Franco-Nevada Price Performance

Shares of NYSE FNV traded down $2.35 during mid-day trading on Thursday, reaching $153.86. 195,776 shares of the company's stock were exchanged, compared to its average volume of 749,763. The firm has a market capitalization of $29.64 billion, a price-to-earnings ratio of 48.07, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99. The firm has a 50-day moving average price of $165.17 and a two-hundred day moving average price of $152.64.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 11.40% and a net margin of 50.39%. The business's revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. As a group, sell-side analysts forecast 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 was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.

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.