Franco-Nevada Co. (NYSE:FNV) Stock Holdings Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 839,903 shares of the basic materials company's stock after buying an additional 54,329 shares during the period. Geode Capital Management LLC owned about 0.44% of Franco-Nevada worth $104,068,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Franco-Nevada during the second quarter worth about $276,446,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Franco-Nevada by 3,404.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock valued at $86,287,000 after purchasing an additional 706,919 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Franco-Nevada by 19.4% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company's stock worth $411,003,000 after purchasing an additional 537,047 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Franco-Nevada by 13.9% in the 3rd quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after purchasing an additional 424,810 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock worth $119,069,000 after buying an additional 359,900 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. UBS Group started 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 for the company. Bank of America cut shares of Franco-Nevada from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Jefferies Financial Group cut their price target on Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a report on Thursday, October 17th. Finally, Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 18th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $152.83.

Franco-Nevada Trading Down 0.3 %

NYSE:FNV traded down $0.38 during midday trading on Thursday, hitting $115.16. 744,330 shares of the stock were exchanged, compared to its average volume of 661,524. The company has a market capitalization of $22.17 billion, a price-to-earnings ratio of -36.44 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. The business has a 50-day moving average price of $124.91 and a two-hundred day moving average price of $123.38.

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 EPS for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $279.11 million. During the same period in the prior year, the firm posted $0.91 EPS. The firm's quarterly revenue was down 10.9% on a year-over-year basis. Sell-side analysts forecast that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, December 5th. Franco-Nevada's payout ratio is -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.