Guardian Partners Inc. Invests $298,000 in Franco-Nevada Co. (NYSE:FNV)

Guardian Partners Inc. purchased a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,336 shares of the basic materials company's stock, valued at approximately $298,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Franco-Nevada by 2.3% in the 4th 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. First Eagle Investment Management LLC raised its stake in shares of Franco-Nevada by 3.3% in 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 buying an additional 107,043 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 19.4% in 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 last quarter. National Bank of Canada FI lifted its holdings in shares of Franco-Nevada by 2.2% during the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company's stock valued at $171,513,000 after purchasing an additional 29,512 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company's stock valued at $159,530,000 after purchasing an additional 556,894 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Remove Ads

Franco-Nevada Stock Up 1.6 %

Shares of FNV stock traded up $2.39 during trading on Thursday, reaching $155.67. The company's stock had a trading volume of 285,820 shares, compared to its average volume of 741,194. The company has a market cap of $29.97 billion, a price-to-earnings ratio of -49.31, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $158.52. The business has a fifty day moving average price of $141.36 and a 200-day moving average price of $130.04.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data 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 analyst estimates of $304.33 million. During the same period in the previous year, the business earned $0.90 EPS. Franco-Nevada's revenue for the quarter was up 5.8% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. 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 0.98%. Franco-Nevada's dividend payout ratio (DPR) is 53.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FNV shares. Raymond James upped their price target on shares of Franco-Nevada from $160.00 to $162.00 and gave the stock an "outperform" rating in a research note on Tuesday, March 11th. UBS Group raised their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. Royal Bank of Canada increased their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Finally, TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $155.50.

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.