Rossby Financial LCC Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Rossby Financial LCC bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,950 shares of the basic materials company's stock, valued at approximately $464,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FNV. Norges Bank bought a new position in Franco-Nevada in the 4th quarter valued at $237,643,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Franco-Nevada by 246.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock worth $136,796,000 after purchasing an additional 828,166 shares during the last quarter. Proficio Capital Partners LLC increased its stake in Franco-Nevada by 11,659.0% in the 4th quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after buying an additional 478,602 shares during the period. Bennbridge Ltd bought a new stake in Franco-Nevada during the 4th quarter valued at about $45,877,000. Finally, Geode Capital Management LLC boosted its position in Franco-Nevada by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 1,101,854 shares of the basic materials company's stock valued at $129,870,000 after buying an additional 261,951 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $1.44 during trading hours on Friday, reaching $171.14. The stock had a trading volume of 1,026,124 shares, compared to its average volume of 692,350. The company has a market cap of $32.95 billion, a price-to-earnings ratio of -54.16, a PEG ratio of 9.78 and a beta of 0.68. The business's 50 day moving average price is $150.39 and its 200-day moving average price is $134.39. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $174.44.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 EPS. On average, sell-side analysts forecast that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, March 13th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is currently 53.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group raised their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 2nd. BMO Capital Markets started coverage on Franco-Nevada in a report on Wednesday. They issued an "outperform" rating for the company. Royal Bank of Canada increased their price target on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Finally, TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $162.25.

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.