Principal Financial Group Inc. Acquires 2,739 Shares of Franco-Nevada Corporation (NYSE:FNV)

Principal Financial Group Inc. grew its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 34.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,710 shares of the basic materials company's stock after acquiring an additional 2,739 shares during the period. Principal Financial Group Inc.'s holdings in Franco-Nevada were worth $1,684,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FNV. Norges Bank purchased a new position in Franco-Nevada during the 4th quarter valued at about $237,643,000. EdgePoint Investment Group Inc. lifted its position in shares of Franco-Nevada by 49.9% in the fourth 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 in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after buying an additional 828,166 shares during the period. Capital World Investors grew 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 acquiring an additional 711,591 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new stake in Franco-Nevada during the 4th quarter worth approximately $52,857,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Royal Bank Of Canada increased their price objective on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. UBS Group raised their target price on Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Raymond James Financial set a $186.00 target price on shares of Franco-Nevada and gave the company an "outperform" rating in a report on Wednesday, May 28th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $172.13.

Franco-Nevada Trading Up 1.0%

NYSE:FNV traded up $1.60 during trading hours on Monday, reaching $156.00. The company had a trading volume of 606,356 shares, compared to its average volume of 752,392. The firm's 50 day moving average price is $164.67 and its 200-day moving average price is $153.63. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99. The firm has a market cap of $30.05 billion, a price-to-earnings ratio of 48.75, a PEG ratio of 2.08 and a beta of 0.41.

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. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same quarter in the previous year, the company earned $0.76 earnings per share. The company's quarterly revenue was up 43.5% on a year-over-year basis. On average, analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.97%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is currently 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.