Fmr LLC Has $1.16 Billion Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Fmr LLC decreased its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 1.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,863,339 shares of the basic materials company’s stock after selling 115,077 shares during the period. Fmr LLC owned 0.05% of Franco-Nevada worth $1,159,077,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Essex Financial Services Inc. boosted its holdings in shares of Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares in the last quarter. Mutual Advisors LLC grew its holdings in Franco-Nevada by 4.0% in the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares during the period. Sustainable Insight Capital Management LLC grew its holdings in Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 100 shares during the period. Finally, Blossom Wealth Management raised its holdings in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Franco-Nevada Price Performance

NYSE FNV opened at $144.86 on Monday. The company has a fifty day moving average price of $145.19 and a 200-day moving average price of $131.67. The firm has a market cap of $27.89 billion, a price-to-earnings ratio of -45.84, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $161.36.

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

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Franco-Nevada 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.