Franklin Resources Inc. Buys 6,052 Shares of Franco-Nevada Co. (NYSE:FNV)

Franklin Resources Inc. increased its stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,232 shares of the basic materials company's stock after purchasing an additional 6,052 shares during the period. Franklin Resources Inc.'s holdings in Franco-Nevada were worth $9,957,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Graham Capital Wealth Management LLC raised its holdings in Franco-Nevada by 0.4% in the second quarter. Graham Capital Wealth Management LLC now owns 21,183 shares of the basic materials company's stock worth $2,511,000 after purchasing an additional 86 shares during the period. Meixler Investment Management Ltd. raised its stake in Franco-Nevada by 0.5% during the 2nd quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company's stock worth $2,543,000 after buying an additional 101 shares during the period. Natixis Advisors LLC lifted its holdings in Franco-Nevada by 0.5% during the second quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company's stock worth $2,272,000 after acquiring an additional 101 shares in the last quarter. Huntington National Bank grew its stake in Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company's stock valued at $185,000 after acquiring an additional 102 shares during the period. Finally, Primoris Wealth Advisors LLC increased its holdings in shares of Franco-Nevada by 4.7% in the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company's stock worth $293,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FNV shares. Scotiabank cut their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. UBS Group assumed coverage on shares of Franco-Nevada in a research note on Monday, November 18th. They issued a "buy" rating and a $160.00 price target on the stock. HC Wainwright lowered their price objective on shares of Franco-Nevada from $200.00 to $155.00 and set a "buy" rating for the company in a research report on Friday. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $145.33.

Franco-Nevada Trading Up 0.9 %

Shares of NYSE FNV traded up $1.05 during mid-day trading on Friday, hitting $116.21. The company had a trading volume of 1,172,822 shares, compared to its average volume of 663,678. The firm has a 50-day simple moving average of $124.60 and a two-hundred day simple moving average of $123.30. The company has a market capitalization of $22.37 billion, a PE ratio of -36.78 and a beta of 0.72. Franco-Nevada Co. has a one year low of $103.64 and a one year high of $137.60.

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

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada's dividend payout ratio (DPR) is currently -45.57%.

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.