390,140 Shares in Franco-Nevada Co. (NYSE:FNV) Bought by Bennbridge Ltd

Bennbridge Ltd purchased 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 firm purchased 390,140 shares of the basic materials company's stock, valued at approximately $45,877,000. Franco-Nevada makes up 46.7% of Bennbridge Ltd's holdings, making the stock its largest holding. Bennbridge Ltd owned 0.20% of Franco-Nevada at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FNV. Plato Investment Management Ltd acquired a new position in Franco-Nevada in the third quarter valued at $1,850,000. Huntington National Bank lifted its holdings in shares of Franco-Nevada by 7.4% during the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock worth $185,000 after acquiring an additional 102 shares during the period. Aubrey Capital Management Ltd boosted its position in shares of Franco-Nevada by 26.6% in the third quarter. Aubrey Capital Management Ltd now owns 9,253 shares of the basic materials company's stock worth $1,149,000 after acquiring an additional 1,942 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Franco-Nevada by 22.7% in the third quarter. Metis Global Partners LLC now owns 15,153 shares of the basic materials company's stock worth $1,882,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Franco-Nevada by 6.5% in the third quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company's stock valued at $2,535,000 after purchasing an additional 1,237 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

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Franco-Nevada Price Performance

NYSE FNV traded up $0.91 on Monday, reaching $154.26. The company had a trading volume of 836,104 shares, compared to its average volume of 618,686. The firm has a market capitalization of $29.70 billion, a PE ratio of -48.82, a P/E/G ratio of 9.78 and a beta of 0.73. The firm has a 50-day moving average of $136.67 and a 200-day moving average of $128.16. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $155.94.

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 for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $304.33 million. During the same period last year, the business earned $0.90 EPS. The business's revenue was up 5.8% on a year-over-year basis. As a group, sell-side analysts expect 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 will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $0.38 dividend. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. Franco-Nevada's payout ratio is 53.15%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. 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 report on Tuesday, February 11th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Raymond James upped their price target on Franco-Nevada from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Finally, StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Friday, March 7th. 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 presently has an average rating of "Moderate Buy" and an average price target of $153.63.

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.