Franklin Resources Inc. Boosts Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Franklin Resources Inc. lifted its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,910 shares of the basic materials company's stock after acquiring an additional 2,678 shares during the period. Franklin Resources Inc.'s holdings in Franco-Nevada were worth $9,613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Van ECK Associates Corp increased its holdings in shares of Franco-Nevada by 2.3% in the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock worth $1,004,046,000 after purchasing an additional 193,968 shares during the last quarter. Vanguard Group Inc. increased its stake in Franco-Nevada by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company's stock worth $916,540,000 after acquiring an additional 132,465 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Franco-Nevada by 3.3% during the 4th 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. Norges Bank bought a new position in shares of Franco-Nevada during the 4th quarter valued at approximately $237,643,000. Finally, TD Asset Management Inc. grew its holdings in shares of Franco-Nevada by 2.8% in the fourth quarter. TD Asset Management Inc. now owns 1,804,599 shares of the basic materials company's stock valued at $211,954,000 after purchasing an additional 48,777 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

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Franco-Nevada Trading Up 1.1 %

NYSE:FNV traded up $1.84 during trading hours on Monday, hitting $168.09. 138,925 shares of the stock were exchanged, compared to its average volume of 682,230. The firm's fifty day moving average price is $147.54 and its 200 day moving average price is $132.76. The company has a market cap of $32.37 billion, a P/E ratio of -53.19, a P/E/G ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $168.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million for the quarter, compared to analysts' expectations of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company's revenue was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. Equities analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal 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 given a $0.38 dividend. 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 0.90%. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada's payout ratio is currently 53.15%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. UBS Group boosted their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday. TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Finally, StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $160.38.

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.