Sapient Capital LLC acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,104 shares of the basic materials company's stock, valued at approximately $1,674,000.
Several other institutional investors have also recently made changes to their positions in the company. FMR LLC grew its position in Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company's stock valued at $2,211,558,000 after acquiring an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Franco-Nevada by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company's stock worth $1,393,843,000 after buying an additional 31,642 shares during the period. Vanguard Group Inc. lifted its holdings in Franco-Nevada by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company's stock valued at $948,364,000 after buying an additional 112,274 shares in the last quarter. Victory Capital Management Inc. boosted its position in Franco-Nevada by 8.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company's stock valued at $357,915,000 after buying an additional 206,125 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Franco-Nevada by 69.9% during the first quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company's stock worth $390,662,000 after acquiring an additional 1,102,710 shares during the period. Institutional investors own 77.06% of the company's stock.
Analysts Set New Price Targets
A number of analysts recently issued reports on the company. Raymond James boosted their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an "outperform" rating in a report on Thursday. TheStreet downgraded Franco-Nevada from a "c+" rating to a "d+" rating in a research report on Tuesday, March 5th. Bank of America decreased their price objective on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating for the company in a report on Monday, March 18th. Scotiabank dropped their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a "sector perform" rating on the stock in a report on Thursday, March 7th. Finally, Jefferies Financial Group started coverage on shares of Franco-Nevada in a research report on Thursday, February 29th. They set a "hold" rating and a $117.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $147.30.
Get Our Latest Report on FNV
Franco-Nevada Stock Down 2.7 %
Shares of Franco-Nevada stock traded down $3.27 on Friday, reaching $118.05. The stock had a trading volume of 1,344,629 shares, compared to its average volume of 746,134. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $161.25. The company has a 50 day moving average price of $112.71 and a 200 day moving average price of $116.77.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million for the quarter. On average, sell-side analysts predict that Franco-Nevada Co. will post 2.75 EPS for the current fiscal year.
Franco-Nevada Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.22%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. Franco-Nevada's payout ratio is currently -55.97%.
About Franco-Nevada
(
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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