Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Capital World Investors

Capital World Investors increased its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,948,917 shares of the basic materials company's stock after acquiring an additional 711,591 shares during the quarter. Capital World Investors owned about 4.13% of Franco-Nevada worth $934,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of FNV. Dimensional Fund Advisors LP increased its position in shares of Franco-Nevada by 18.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 244,478 shares of the basic materials company's stock worth $28,746,000 after purchasing an additional 38,585 shares in the last quarter. First Trust Advisors LP increased its position in Franco-Nevada by 1,024.9% during the fourth quarter. First Trust Advisors LP now owns 368,342 shares of the basic materials company's stock worth $43,313,000 after buying an additional 335,598 shares during the period. Capital International Sarl lifted its stake in Franco-Nevada by 54.1% in the fourth quarter. Capital International Sarl now owns 12,266 shares of the basic materials company's stock valued at $1,441,000 after buying an additional 4,308 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of Franco-Nevada by 5.9% in the fourth quarter. NewEdge Advisors LLC now owns 5,642 shares of the basic materials company's stock valued at $663,000 after acquiring an additional 313 shares during the period. Finally, Rossby Financial LCC purchased a new position in shares of Franco-Nevada during the fourth quarter worth approximately $464,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FNV. BMO Capital Markets assumed coverage on shares of Franco-Nevada in a research note on Wednesday. They set an "outperform" rating for the company. Raymond James upped their price objective on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research note on Friday, April 4th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a report on Wednesday, April 2nd. Scotiabank increased their price target on Franco-Nevada from $150.00 to $165.00 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Finally, TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a research note on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $162.25.

Franco-Nevada Trading Down 0.8 %

FNV stock opened at $171.14 on Friday. The firm has a 50 day moving average of $150.39 and a 200-day moving average of $134.30. The company has a market cap of $32.95 billion, a price-to-earnings ratio of -54.16, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $174.44.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data 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 positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 million. During the same period in the previous year, the firm posted $0.90 earnings per share. Franco-Nevada's revenue was up 5.8% on a year-over-year basis. Sell-side analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 13th. Franco-Nevada's dividend payout ratio (DPR) 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.

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