Wellington Management Group LLP Acquires 27,299 Shares of Franco-Nevada Co. (NYSE:FNV)

Wellington Management Group LLP raised its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,225 shares of the basic materials company's stock after purchasing an additional 27,299 shares during the period. Wellington Management Group LLP owned approximately 0.05% of Franco-Nevada worth $12,359,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FNV. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada in the 4th quarter valued at approximately $49,000. Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Franco-Nevada by 538.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after buying an additional 512 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Franco-Nevada during the fourth quarter worth $73,000. Finally, Jones Financial Companies Lllp raised its holdings in shares of Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after acquiring an additional 126 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FNV. Scotiabank upped their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. HC Wainwright reiterated a "buy" rating and set a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a report on Wednesday, May 28th. UBS Group lifted their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $169.63.

Franco-Nevada Trading Up 0.5%

Shares of NYSE:FNV traded up $0.89 during trading on Wednesday, hitting $177.26. 419,055 shares of the company were exchanged, compared to its average volume of 728,641. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74. The stock has a market cap of $34.13 billion, a price-to-earnings ratio of -56.09, a P/E/G ratio of 9.78 and a beta of 0.45. The firm has a fifty day moving average price of $163.89 and a two-hundred day moving average price of $143.32.

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 for the quarter, beating the consensus estimate 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 business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same period last year, the business earned $0.76 earnings per share. The firm's revenue was up 43.5% on a year-over-year basis. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.86%. Franco-Nevada's dividend payout ratio is presently 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.