Massachusetts Financial Services Co. MA Raises Position in Franco-Nevada Corporation (NYSE:FNV)

Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,207,413 shares of the basic materials company's stock after acquiring an additional 207,232 shares during the quarter. Massachusetts Financial Services Co. MA owned 6.34% of Franco-Nevada worth $1,923,400,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. CX Institutional purchased a new position in Franco-Nevada during the first quarter valued at approximately $30,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the 1st quarter valued at $35,000. Hexagon Capital Partners LLC increased its holdings in shares of Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 188 shares during the period. Golden State Wealth Management LLC raised its position 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. Finally, Versant Capital Management Inc purchased a new stake in shares of Franco-Nevada during the 1st quarter worth $55,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on FNV. HC Wainwright reiterated a "buy" rating and issued a $195.00 target price (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. Raymond James Financial set a $186.00 price target on shares of Franco-Nevada and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. UBS Group boosted their target price on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, Royal Bank Of Canada raised their price target on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $172.13.

Franco-Nevada Stock Down 0.7%

Shares of NYSE:FNV traded down $1.11 during trading on Monday, hitting $158.51. 593,084 shares of the stock traded hands, compared to its average volume of 860,179. The company has a fifty day moving average price of $165.94 and a two-hundred day moving average price of $152.31. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $179.99. The company has a market cap of $30.54 billion, a price-to-earnings ratio of 49.53, a P/E/G ratio of 2.19 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company's revenue for the quarter was up 43.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Thursday, June 12th. Franco-Nevada's payout ratio is 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.