M&G Plc Purchases 51,996 Shares of Franco-Nevada Co. (NYSE:FNV)

M&G PLC boosted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,679,858 shares of the basic materials company's stock after buying an additional 51,996 shares during the quarter. Franco-Nevada makes up approximately 1.1% of M&G PLC's portfolio, making the stock its 17th biggest position. M&G PLC owned about 0.87% of Franco-Nevada worth $208,645,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of FNV. Mechanics Financial Corp grew its holdings in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. Mather Group LLC. bought a new position in shares of Franco-Nevada during the second quarter valued at about $33,000. Kings Path Partners LLC purchased a new position in shares of Franco-Nevada in the second quarter worth about $36,000. Sunbelt Securities Inc. lifted its stake in shares of Franco-Nevada by 3,333.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 412 shares of the basic materials company's stock valued at $49,000 after acquiring an additional 400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 110 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FNV. StockNews.com upgraded Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their price target for the company from $142.00 to $139.00 in a research report on Tuesday, October 1st. HC Wainwright restated a "buy" rating and issued a $185.00 price objective on shares of Franco-Nevada in a research report on Friday, August 16th. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a report on Thursday, October 17th. Finally, TD Securities raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $154.57.

Franco-Nevada Stock Down 4.4 %

NYSE:FNV traded down $5.77 on Thursday, hitting $126.41. The stock had a trading volume of 1,183,548 shares, compared to its average volume of 654,686. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The stock has a market cap of $24.33 billion, a price-to-earnings ratio of -43.48, a price-to-earnings-growth ratio of 22.08 and a beta of 0.75. The business's 50-day simple moving average is $126.57 and its two-hundred day simple moving average is $124.09.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results 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 negative net margin of 51.64% and a positive return on equity of 10.56%. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $279.11 million. During the same quarter last year, the firm posted $0.91 earnings per share. The business's quarterly revenue was down 10.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Franco-Nevada Co. will post 3.25 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada's dividend payout ratio is currently -47.37%.

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.