Wexford Capital LP Acquires New Position in Franco-Nevada Co. (NYSE:FNV)

Wexford Capital LP acquired a new position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,023 shares of the basic materials company's stock, valued at approximately $826,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp raised its holdings in Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock worth $1,004,046,000 after purchasing an additional 193,968 shares in the last quarter. Capital World Investors raised its holdings in Franco-Nevada by 9.8% in 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. Vanguard Group Inc. raised its holdings in Franco-Nevada by 1.7% in 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 in the last quarter. Bank of Montreal Can raised its holdings in Franco-Nevada by 0.3% in 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 in the last quarter. Finally, EdgePoint Investment Group Inc. raised its holdings in Franco-Nevada by 49.9% in 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 in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group upped their price objective 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. Raymond James increased their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Scotiabank increased their price target 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. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Finally, TD Securities lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $162.75.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded down $1.66 during trading on Thursday, hitting $164.01. The company's stock had a trading volume of 554,783 shares, compared to its average volume of 725,995. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74. The company has a fifty day simple moving average of $161.23 and a two-hundred day simple moving average of $140.21. The company has a market capitalization of $31.58 billion, a PE ratio of -51.90, a P/E/G ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS 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 company had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. During the same period in the prior year, the firm posted $0.76 EPS. Franco-Nevada's revenue for the quarter was up 43.5% on a year-over-year basis. As a group, 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. Investors of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is 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.