Price T Rowe Associates Inc. MD Increases Holdings in Franco-Nevada Co. (NYSE:FNV)

Price T Rowe Associates Inc. MD increased its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 10.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,286,661 shares of the basic materials company's stock after buying an additional 400,384 shares during the period. Price T Rowe Associates Inc. MD owned 2.23% of Franco-Nevada worth $504,069,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its position in shares of Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock worth $1,004,046,000 after acquiring an additional 193,968 shares in the last quarter. Capital World Investors grew its stake in Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares during the period. Vanguard Group Inc. increased its holdings in Franco-Nevada by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock worth $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can lifted its stake in Franco-Nevada by 0.3% in the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company's stock valued at $622,124,000 after buying an additional 15,273 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Franco-Nevada by 3.3% during the 4th quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company's stock worth $395,113,000 after buying an additional 107,043 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Raymond James lifted their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 23rd. BMO Capital Markets started coverage on shares of Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Scotiabank boosted their target price on Franco-Nevada from $150.00 to $165.00 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Finally, UBS Group increased their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $162.25.

Franco-Nevada Stock Up 1.3 %

NYSE FNV traded up $2.18 on Wednesday, reaching $171.12. The company had a trading volume of 235,415 shares, compared to its average volume of 706,021. The stock has a market capitalization of $32.95 billion, a P/E ratio of -54.19, a P/E/G ratio of 9.78 and a beta of 0.68. The company's fifty day moving average is $154.62 and its 200 day moving average is $136.70. 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 released its quarterly 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. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million for the quarter, compared to analyst estimates of $304.33 million. During the same period last year, the firm earned $0.90 earnings per share. The firm's revenue was up 5.8% on a year-over-year basis. On average, research analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

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.