60,664 Shares in Franco-Nevada Co. (NYSE:FNV) Bought by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co bought a new position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 60,664 shares of the basic materials company's stock, valued at approximately $7,132,000. Franco-Nevada accounts for approximately 0.9% of PKO Investment Management Joint Stock Co's holdings, making the stock its 21st biggest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Essex Financial Services Inc. boosted its holdings in shares of Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock worth $458,000 after buying an additional 84 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after buying an additional 93 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock worth $309,000 after buying an additional 96 shares during the period. Blossom Wealth Management boosted its holdings in shares of Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock worth $335,000 after buying an additional 108 shares during the period. Finally, CoreCommodity Management LLC boosted its holdings in shares of Franco-Nevada by 2.9% in the fourth quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after buying an additional 108 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. HC Wainwright restated a "buy" rating and set a $195.00 price target (up from $180.00) on shares of Franco-Nevada in a report on Wednesday. UBS Group raised their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Royal Bank of Canada raised their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 11th. Finally, Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $165.25.

Franco-Nevada Price Performance

FNV traded up $0.73 during midday trading on Friday, hitting $169.02. 734,663 shares of the company's stock traded hands, compared to its average volume of 727,462. The company has a market cap of $32.55 billion, a PE ratio of -53.49, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. The stock's fifty day simple moving average is $163.00 and its 200-day simple moving average is $142.63. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter last year, the firm posted $0.76 earnings per share. The company's quarterly revenue was up 43.5% compared to the same quarter last year. On average, research analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio is 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.