Price Capital Management Inc. Invests $1.48 Million in Franco-Nevada Corporation (NYSE:FNV)

Price Capital Management Inc. acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 9,400 shares of the basic materials company's stock, valued at approximately $1,481,000. Franco-Nevada makes up 3.7% of Price Capital Management Inc.'s holdings, making the stock its 13th biggest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in shares of Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock valued at $1,923,400,000 after buying an additional 207,232 shares during the period. Capital World Investors increased its holdings in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares during the period. Vanguard Group Inc. increased its holdings in Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock worth $916,540,000 after purchasing an additional 132,465 shares during the period. Bank of Montreal Can increased its holdings in Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock worth $622,124,000 after purchasing an additional 15,273 shares during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after purchasing an additional 1,650,358 shares during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FNV shares. Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the stock an "outperform" rating in a report on Wednesday, May 28th. Scotiabank upped their price objective on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. HC Wainwright reaffirmed a "buy" rating and set a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $172.13.

Franco-Nevada Price Performance

Shares of FNV stock traded up $0.37 during trading hours on Friday, reaching $163.01. 911,866 shares of the company's stock were exchanged, compared to its average volume of 673,251. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99. The company has a market cap of $31.40 billion, a P/E ratio of 50.94, a price-to-earnings-growth ratio of 2.17 and a beta of 0.41. The company's 50 day moving average is $164.96 and its two-hundred day moving average is $154.53.

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

Franco-Nevada Dividend Announcement

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. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Franco-Nevada Company 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.