Geode Capital Management LLC Acquires 261,951 Shares of Franco-Nevada Co. (NYSE:FNV)

Geode Capital Management LLC grew its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 31.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,101,854 shares of the basic materials company's stock after acquiring an additional 261,951 shares during the period. Geode Capital Management LLC owned about 0.57% of Franco-Nevada worth $129,870,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Essex Financial Services Inc. lifted its position in shares of Franco-Nevada by 2.2% in the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock worth $458,000 after purchasing an additional 84 shares during the period. Harbour Investments Inc. lifted its holdings in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after buying an additional 93 shares during the period. Mutual Advisors LLC lifted its stake in shares of Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after purchasing an additional 96 shares during the period. Sustainable Insight Capital Management LLC boosted its position in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after purchasing an additional 100 shares in the last quarter. Finally, Blossom Wealth Management raised its holdings in Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock worth $335,000 after purchasing an additional 108 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

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Analyst Upgrades and Downgrades

FNV has been the subject of a number of recent research reports. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research note on Tuesday, March 11th. Scotiabank lifted their price target on Franco-Nevada from $145.00 to $150.00 and gave the stock a "sector perform" rating in a research report on Tuesday, March 11th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $160.38.

Franco-Nevada Price Performance

Shares of FNV stock traded up $1.84 during trading hours on Monday, hitting $168.09. The stock had a trading volume of 138,925 shares, compared to its average volume of 682,230. The stock has a market capitalization of $32.37 billion, a price-to-earnings ratio of -53.19, a PEG ratio of 9.78 and a beta of 0.68. The stock's 50-day moving average price is $147.54 and its two-hundred day moving average price is $132.76. Franco-Nevada Co. has a one year low of $112.70 and a one year 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, topping the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million for the quarter, compared to analysts' expectations of $304.33 million. During the same quarter in the previous year, the business posted $0.90 earnings per share. Franco-Nevada's quarterly revenue was up 5.8% on a year-over-year basis. As a group, equities research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.90%. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.

About Franco-Nevada

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.