St. James Investment Company LLC lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 29.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 219,988 shares of the basic materials company's stock after buying an additional 49,907 shares during the quarter. Franco-Nevada makes up about 5.8% of St. James Investment Company LLC's holdings, making the stock its 6th largest position. St. James Investment Company LLC owned about 0.11% of Franco-Nevada worth $34,661,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Franco-Nevada during the 4th quarter valued at about $237,643,000. EdgePoint Investment Group Inc. grew 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 valued at $582,100,000 after purchasing an additional 1,650,358 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after purchasing an additional 828,166 shares during the last quarter. Capital World Investors increased its stake in shares of 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 in the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new position in shares of Franco-Nevada during the 4th quarter worth approximately $52,857,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
Franco-Nevada Trading Up 0.7%
FNV traded up $1.10 during midday trading on Friday, hitting $165.54. The company's stock had a trading volume of 395,450 shares, compared to its average volume of 747,510. 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 $166.74 and a two-hundred day moving average price of $150.83. The firm has a market cap of $31.89 billion, a P/E ratio of 51.73, a PEG ratio of 2.26 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same period in the previous year, the firm earned $0.76 earnings per share. Franco-Nevada's revenue was up 43.5% compared to the same quarter last year. On average, equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.
Franco-Nevada Announces Dividend
The business also recently disclosed 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. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.92%. Franco-Nevada's dividend payout ratio is presently 47.50%.
Analyst Ratings Changes
A number of equities research analysts have commented on FNV shares. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. HC Wainwright reiterated a "buy" rating and set a $195.00 price objective (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. Scotiabank boosted their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Finally, Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and a consensus target price of $172.13.
Read Our Latest Research Report on Franco-Nevada
Franco-Nevada Company Profile
(
Free Report)
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.
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