First Trust Advisors LP Buys 335,598 Shares of Franco-Nevada Co. (NYSE:FNV)

First Trust Advisors LP grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 1,024.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 368,342 shares of the basic materials company's stock after acquiring an additional 335,598 shares during the period. First Trust Advisors LP owned about 0.19% of Franco-Nevada worth $43,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of FNV. Barclays PLC raised its stake in Franco-Nevada by 29.4% in the third quarter. Barclays PLC now owns 35,828 shares of the basic materials company's stock worth $4,450,000 after buying an additional 8,147 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at approximately $326,000. Tri Ri Asset Management Corp purchased a new stake in Franco-Nevada during the 3rd quarter worth approximately $3,433,000. Franklin Resources Inc. raised its stake in Franco-Nevada by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 79,232 shares of the basic materials company's stock worth $9,957,000 after acquiring an additional 6,052 shares during the last quarter. Finally, Confluence Investment Management LLC raised its position in Franco-Nevada by 8.7% during the 4th quarter. Confluence Investment Management LLC now owns 5,790 shares of the basic materials company's stock worth $681,000 after buying an additional 465 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of several recent research reports. Scotiabank upped their price target on shares of Franco-Nevada from $150.00 to $165.00 and gave the company a "sector perform" rating in a report on Monday, April 14th. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. BMO Capital Markets assumed coverage on shares of Franco-Nevada in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $162.25.

Franco-Nevada Price Performance

NYSE FNV traded down $1.26 on Tuesday, hitting $169.59. 193,143 shares of the stock were exchanged, compared to its average volume of 705,596. The company has a market capitalization of $32.65 billion, a price-to-earnings ratio of -53.68, a P/E/G ratio of 9.78 and a beta of 0.68. The company's 50-day moving average price is $154.08 and its two-hundred day moving average price is $136.48. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.90%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is currently 53.15%.

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.