M&G Investment Management Ltd. Has $215.60 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

M&G Investment Management Ltd. lifted its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 39.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,943,352 shares of the basic materials company's stock after buying an additional 550,855 shares during the quarter. Franco-Nevada makes up 1.3% of M&G Investment Management Ltd.'s holdings, making the stock its 14th largest holding. M&G Investment Management Ltd. owned about 1.01% of Franco-Nevada worth $215,604,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in FNV. FMR LLC grew its position in shares of Franco-Nevada by 1.3% in the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company's stock valued at $2,211,558,000 after purchasing an additional 208,392 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Franco-Nevada by 5.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company's stock worth $1,219,807,000 after acquiring an additional 566,539 shares in the last quarter. Van ECK Associates Corp raised its position in Franco-Nevada by 9.9% in the 4th quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company's stock valued at $972,707,000 after purchasing an additional 789,070 shares in the last quarter. Vanguard Group Inc. grew 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 worth $948,364,000 after acquiring an additional 112,274 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Franco-Nevada by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,694,440 shares of the basic materials company's stock valued at $298,571,000 after acquiring an additional 13,225 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

FNV traded down $1.47 on Wednesday, reaching $125.29. 499,739 shares of the company's stock were exchanged, compared to its average volume of 716,915. The company has a market cap of $24.09 billion, a price-to-earnings ratio of -50.32, a PEG ratio of 6.01 and a beta of 0.71. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $157.44. The company's 50 day moving average is $119.77 and its 200-day moving average is $114.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.08. The firm had revenue of $256.80 million during the quarter, compared to analysts' expectations of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. Franco-Nevada's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. Sell-side analysts forecast that Franco-Nevada Co. will post 3.17 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. Franco-Nevada's dividend payout ratio is currently -57.43%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FNV. HC Wainwright increased their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a "buy" rating in a report on Monday, May 6th. TheStreet downgraded shares of Franco-Nevada from a "c+" rating to a "d+" rating in a research report on Tuesday, March 5th. Jefferies Financial Group lifted their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a "hold" rating in a report on Monday, April 22nd. Bank of America reduced their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a "buy" rating for the company in a research report on Monday, March 18th. Finally, Scotiabank increased their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a "sector perform" rating in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $148.60.

About Franco-Nevada

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.