Foresight Global Investors Inc. Purchases New Shares in Franco-Nevada Co. (NYSE:FNV)

Foresight Global Investors Inc. acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,500 shares of the basic materials company's stock, valued at approximately $647,000. Franco-Nevada makes up about 0.5% of Foresight Global Investors Inc.'s portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in FNV. Laurel Wealth Advisors LLC bought a new position in Franco-Nevada during the 4th quarter worth about $47,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada during the third quarter worth about $52,000. Erste Asset Management GmbH bought a new position in shares of Franco-Nevada during the third quarter worth about $55,000. Harbour Investments Inc. raised its position in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Franco-Nevada in the 4th quarter valued at approximately $73,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on FNV shares. Scotiabank raised their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research note on Tuesday, March 11th. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday. UBS Group raised their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a report on Tuesday, March 11th. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $153.63.

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Franco-Nevada Price Performance

NYSE FNV traded up $0.32 during trading on Friday, reaching $155.85. 808,947 shares of the company's stock were exchanged, compared to its average volume of 620,049. The business has a 50 day moving average price of $139.63 and a 200-day moving average price of $129.29. The stock has a market capitalization of $30.01 billion, a P/E ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $156.82.

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

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is currently 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.