PFG Investments LLC Takes Position in Franco-Nevada Co. (NYSE:FNV)

PFG Investments LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the first quarter, HoldingsChannel.com reports. The fund acquired 5,405 shares of the basic materials company’s stock, valued at approximately $644,000.

A number of other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after purchasing an additional 208,392 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Franco-Nevada by 5.4% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 11,008,095 shares of the basic materials company’s stock worth $1,219,807,000 after acquiring an additional 566,539 shares in the last quarter. FIL Ltd boosted its stake in Franco-Nevada by 7.8% during the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock worth $1,005,852,000 after acquiring an additional 659,324 shares in the last quarter. Van ECK Associates Corp boosted its stake in Franco-Nevada by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after acquiring an additional 789,070 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Franco-Nevada by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 7,244,210 shares of the basic materials company’s stock worth $802,731,000 after acquiring an additional 139,826 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock traded up $0.49 on Monday, hitting $123.42. The stock had a trading volume of 662,343 shares, compared to its average volume of 733,205. The business has a 50 day moving average of $115.31 and a 200 day moving average of $115.51. The stock has a market cap of $23.73 billion, a price-to-earnings ratio of -50.77, a price-to-earnings-growth ratio of 6.27 and a beta of 0.71. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. As a group, research analysts expect that Franco-Nevada Co. will post 2.97 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. Jefferies Financial Group increased their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Scotiabank increased their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Raymond James increased their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Bank of America dropped their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Six analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $148.60.

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.