Franco-Nevada Co. (NYSE:FNV) Shares Bought by Covea Finance

Covea Finance raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 2.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,320 shares of the basic materials company's stock after acquiring an additional 2,700 shares during the period. Covea Finance owned approximately 0.05% of Franco-Nevada worth $11,895,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new position in Franco-Nevada during the fourth quarter valued at $47,000. Assenagon Asset Management S.A. raised its stake in shares of Franco-Nevada by 2.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 7,528 shares of the basic materials company's stock valued at $884,000 after buying an additional 203 shares during the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of Franco-Nevada in the 4th quarter valued at about $684,000. Trust Co. of Toledo NA OH boosted its stake in shares of Franco-Nevada by 69.0% in the fourth quarter. Trust Co. of Toledo NA OH now owns 6,000 shares of the basic materials company's stock worth $706,000 after buying an additional 2,450 shares during the last quarter. Finally, Birch Capital Management LLC grew its holdings in Franco-Nevada by 37.9% during the fourth quarter. Birch Capital Management LLC now owns 1,085 shares of the basic materials company's stock worth $128,000 after acquiring an additional 298 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on FNV. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their target price for the company from $142.00 to $139.00 in a research note on Tuesday, October 1st. HC Wainwright lowered their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a "buy" rating on the stock in a report on Friday, December 20th. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Finally, UBS Group began coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They set a "buy" rating and a $160.00 target price on the stock. Four equities research 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 has an average rating of "Moderate Buy" and an average target price of $145.33.

Franco-Nevada Stock Up 0.4 %

Shares of NYSE FNV traded up $0.48 during trading on Wednesday, hitting $127.11. The company had a trading volume of 437,419 shares, compared to its average volume of 645,945. Franco-Nevada Co. has a fifty-two week low of $103.64 and a fifty-two week high of $137.60. The stock has a fifty day simple moving average of $120.94 and a two-hundred day simple moving average of $123.72. The firm has a market capitalization of $24.47 billion, a price-to-earnings ratio of -40.22 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. During the same quarter in the previous year, the firm posted $0.91 earnings per share. The company's quarterly revenue was down 10.9% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Thursday, December 5th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada's dividend payout ratio is currently -45.57%.

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.