National Bank of Canada FI Purchases 69,787 Shares of Franco-Nevada Co. (NYSE:FNV)

National Bank of Canada FI boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,474,566 shares of the basic materials company’s stock after buying an additional 69,787 shares during the period. National Bank of Canada FI’s holdings in Franco-Nevada were worth $164,324,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FNV. Mackenzie Financial Corp increased its position in Franco-Nevada by 15.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock valued at $163,156,000 after acquiring an additional 198,144 shares during the last quarter. Vanguard Group Inc. raised its position in Franco-Nevada by 1.6% in the third 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 during the period. Beddow Capital Management Inc. boosted its stake in shares of Franco-Nevada by 3.8% during the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after acquiring an additional 2,059 shares during the last quarter. Invesco Ltd. grew its position in shares of Franco-Nevada by 11.9% during the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock valued at $65,628,000 after acquiring an additional 52,401 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Franco-Nevada by 0.4% in the 3rd quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after purchasing an additional 9,482 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 1.9 %

NYSE FNV traded up $2.34 during trading on Friday, hitting $123.25. 683,906 shares of the stock traded hands, compared to its average volume of 689,409. The company has a market capitalization of $23.70 billion, a P/E ratio of -49.50, a price-to-earnings-growth ratio of 6.17 and a beta of 0.72. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The firm has a 50-day simple moving average of $116.74 and a 200-day simple moving average of $115.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The firm had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the firm posted $0.79 earnings per share. Franco-Nevada’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Co. will post 2.97 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s payout ratio is -54.62%.

Analysts Set New Price Targets

Several research firms recently weighed in on FNV. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James raised their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Scotiabank raised their price target on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Finally, Bank of America dropped their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $148.60.

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.