Clearbridge Investments LLC Acquires 182,826 Shares of Franco-Nevada Co. (NYSE:FNV)

Clearbridge Investments LLC raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 31.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 756,117 shares of the basic materials company's stock after purchasing an additional 182,826 shares during the quarter. Clearbridge Investments LLC owned approximately 0.39% of Franco-Nevada worth $88,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its stake in shares of Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock valued at $1,004,046,000 after buying an additional 193,968 shares in the last quarter. Vanguard Group Inc. raised its holdings in Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock valued at $916,540,000 after acquiring an additional 132,465 shares during the period. First Eagle Investment Management LLC lifted its position in shares of Franco-Nevada by 3.3% during the fourth quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company's stock worth $395,113,000 after acquiring an additional 107,043 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after acquiring an additional 537,047 shares during the period. Finally, Norges Bank purchased a new position in shares of Franco-Nevada in the fourth quarter valued at $237,643,000. Institutional investors own 77.06% of the company's stock.

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Wall Street Analyst Weigh In

FNV has been the topic of a number of recent research reports. TD Securities cut 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. HC Wainwright increased their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Raymond James upped their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Scotiabank raised their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.88.

Franco-Nevada Trading Down 8.7 %

Shares of Franco-Nevada stock traded down $13.86 on Friday, hitting $144.86. 1,961,563 shares of the company traded hands, compared to its average volume of 665,539. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $161.36. The company has a market cap of $27.89 billion, a P/E ratio of -45.84, a P/E/G ratio of 9.78 and a beta of 0.68. The firm's 50-day simple moving average is $145.19 and its 200 day simple moving average is $131.62.

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 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 the consensus estimate of $304.33 million. During the same quarter last year, the business posted $0.90 earnings per share. The company's revenue for the quarter was up 5.8% on a year-over-year basis. Analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 1.05%. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio is currently 53.15%.

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.