EdgePoint Investment Group Inc. Buys 1,650,358 Shares of Franco-Nevada Co. (NYSE:FNV)

EdgePoint Investment Group Inc. boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 49.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,959,851 shares of the basic materials company's stock after acquiring an additional 1,650,358 shares during the quarter. Franco-Nevada comprises about 4.6% of EdgePoint Investment Group Inc.'s investment portfolio, making the stock its 10th biggest position. EdgePoint Investment Group Inc. owned 2.58% of Franco-Nevada worth $582,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Essex Financial Services Inc. boosted its position in shares of Franco-Nevada by 2.2% during the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock valued at $458,000 after buying an additional 84 shares during the period. Harbour Investments Inc. boosted its holdings in shares of 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 purchasing an additional 93 shares during the period. Mutual Advisors LLC boosted its holdings in shares of Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after purchasing an additional 96 shares during the period. Sustainable Insight Capital Management LLC boosted its holdings in shares of Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after purchasing an additional 100 shares during the period. Finally, Blossom Wealth Management boosted its holdings in shares of Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 108 shares during the period. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on FNV shares. Scotiabank boosted their price target on 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. TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Finally, UBS Group boosted their price target on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $162.25.

Franco-Nevada Trading Up 2.1%

Shares of FNV stock traded up $3.41 during trading hours on Friday, reaching $168.66. 1,012,429 shares of the company's stock were exchanged, compared to its average volume of 714,789. The stock's 50 day moving average is $159.01 and its 200-day moving average is $138.87. The company has a market cap of $32.48 billion, a price-to-earnings ratio of -53.37, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business's quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.76 earnings per share. Equities analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's payout ratio is presently 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.