Franco-Nevada Co. (NYSE:FNV) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 171,005 shares of the basic materials company's stock after purchasing an additional 6,355 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Franco-Nevada worth $20,109,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc lifted its holdings in shares of Franco-Nevada by 29.2% in the 4th quarter. IFP Advisors Inc now owns 5,783 shares of the basic materials company's stock valued at $681,000 after acquiring an additional 1,307 shares during the last quarter. Hudson Value Partners LLC lifted its stake in Franco-Nevada by 5.9% in the fourth quarter. Hudson Value Partners LLC now owns 32,279 shares of the basic materials company's stock worth $3,796,000 after purchasing an additional 1,790 shares during the last quarter. Atria Wealth Solutions Inc. lifted its stake in Franco-Nevada by 64.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 13,282 shares of the basic materials company's stock worth $1,562,000 after purchasing an additional 5,219 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Franco-Nevada by 11.4% in the fourth quarter. CIBC Asset Management Inc now owns 1,136,533 shares of the basic materials company's stock worth $133,548,000 after purchasing an additional 116,144 shares during the last quarter. Finally, Meixler Investment Management Ltd. lifted its stake in Franco-Nevada by 12.1% in the fourth quarter. Meixler Investment Management Ltd. now owns 24,760 shares of the basic materials company's stock worth $2,912,000 after purchasing an additional 2,674 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

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Analyst Ratings Changes

Several analysts have issued reports on the stock. UBS Group raised their price objective on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Tuesday. Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. Raymond James lifted their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a research note on Tuesday. StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Friday, March 7th. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, November 18th. 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.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $153.63.

Franco-Nevada Stock Up 2.2 %

FNV stock traded up $3.32 during trading on Friday, hitting $153.45. 1,148,051 shares of the company's stock traded hands, compared to its average volume of 619,850. The firm has a market capitalization of $29.55 billion, a P/E ratio of -48.56, a PEG ratio of 9.78 and a beta of 0.73. The business has a fifty day simple moving average of $136.05 and a two-hundred day simple moving average of $127.90. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $153.81.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping 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 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 company earned $0.90 earnings per share. The business's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. Franco-Nevada's payout ratio is 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.