Bank of Montreal Can Has $622.12 Million Stock Position in Franco-Nevada Co. (NYSE:FNV)

Bank of Montreal Can grew its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,300,880 shares of the basic materials company’s stock after purchasing an additional 15,273 shares during the period. Bank of Montreal Can’s holdings in Franco-Nevada were worth $622,124,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC grew its position in Franco-Nevada by 28.4% in the third quarter. Cerity Partners LLC now owns 3,581 shares of the basic materials company’s stock valued at $445,000 after acquiring an additional 791 shares during the period. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $52,000. Quantinno Capital Management LP lifted its holdings in Franco-Nevada by 6.5% during the 3rd quarter. Quantinno Capital Management LP now owns 23,233 shares of the basic materials company’s stock valued at $2,887,000 after purchasing an additional 1,409 shares during the last quarter. Stifel Financial Corp boosted its position in Franco-Nevada by 60.0% in the third quarter. Stifel Financial Corp now owns 40,012 shares of the basic materials company’s stock valued at $4,972,000 after buying an additional 15,008 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Franco-Nevada by 8.7% during the third quarter. EP Wealth Advisors LLC now owns 2,183 shares of the basic materials company’s stock worth $271,000 after buying an additional 175 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on FNV. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, March 19th. UBS Group increased their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Scotiabank lifted their price target on Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. Finally, Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $157.88.

Franco-Nevada Price Performance

FNV opened at $144.86 on Monday. The firm has a 50 day simple moving average of $145.19 and a 200 day simple moving average of $131.67. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $161.36. The company has a market cap of $27.89 billion, a price-to-earnings ratio of -45.84, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the previous year, the company posted $0.90 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s payout ratio is presently 53.15%.

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.