Franco-Nevada Co. (NYSE:FNV) Holdings Boosted by Cortland Associates Inc. MO

Cortland Associates Inc. MO grew its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 7.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,869 shares of the basic materials company's stock after purchasing an additional 9,764 shares during the quarter. Franco-Nevada makes up 2.2% of Cortland Associates Inc. MO's portfolio, making the stock its 17th largest holding. Cortland Associates Inc. MO owned about 0.07% of Franco-Nevada worth $16,667,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. America First Investment Advisors LLC grew its position in Franco-Nevada by 6.3% in the 1st quarter. America First Investment Advisors LLC now owns 150,040 shares of the basic materials company's stock worth $17,879,000 after purchasing an additional 8,935 shares during the last quarter. PFG Investments LLC bought a new position in Franco-Nevada during the 1st quarter valued at $644,000. QV Investors Inc. bought a new stake in shares of Franco-Nevada in the 1st quarter worth $23,925,000. Raymond James & Associates lifted its holdings in shares of Franco-Nevada by 1.3% in the first quarter. Raymond James & Associates now owns 185,978 shares of the basic materials company's stock valued at $22,161,000 after buying an additional 2,467 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in Franco-Nevada by 52.6% during the first quarter. Maryland State Retirement & Pension System now owns 10,013 shares of the basic materials company's stock valued at $1,191,000 after buying an additional 3,452 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FNV shares. Raymond James lifted their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an "outperform" rating in a research note on Thursday, April 11th. TheStreet lowered Franco-Nevada from a "c+" rating to a "d+" rating in a research note on Tuesday, March 5th. Scotiabank boosted their target price on Franco-Nevada from $139.00 to $140.00 and gave the stock a "sector perform" rating in a research report on Thursday, April 18th. Jefferies Financial Group increased their price target on Franco-Nevada from $117.00 to $129.00 and gave the company a "hold" rating in a research report on Monday, April 22nd. Finally, Bank of America cut their price objective on Franco-Nevada from $138.00 to $136.00 and set a "buy" rating on the stock in a report on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $148.60.

Franco-Nevada Stock Performance

Shares of NYSE FNV traded up $1.37 during mid-day trading on Friday, reaching $122.93. The company had a trading volume of 527,685 shares, compared to its average volume of 665,152. The stock has a fifty day moving average of $115.31 and a two-hundred day moving average of $115.78. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The company has a market capitalization of $23.64 billion, a price-to-earnings ratio of -50.59, a PEG ratio of 6.20 and a beta of 0.71.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its 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 negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter. Sell-side analysts forecast that Franco-Nevada Co. will post 2.97 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.36 per share. This is a boost from Franco-Nevada's previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Franco-Nevada's dividend payout ratio (DPR) is presently -55.97%.

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.

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