JPMorgan Chase & Co. Buys 45,495 Shares of Franco-Nevada Co. (NYSE:FNV)

JPMorgan Chase & Co. lifted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 962,671 shares of the basic materials company's stock after buying an additional 45,495 shares during the period. JPMorgan Chase & Co. owned approximately 0.50% of Franco-Nevada worth $113,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Essex Financial Services Inc. raised its position in Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock worth $458,000 after acquiring an additional 84 shares during the period. Harbour Investments Inc. raised its holdings in Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the period. Mutual Advisors LLC raised its holdings in Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock worth $309,000 after purchasing an additional 96 shares during the period. Sustainable Insight Capital Management LLC lifted its position in 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 grew its holdings in Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 108 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FNV. UBS Group lifted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Tuesday, March 11th. HC Wainwright lifted their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Royal Bank of Canada increased their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday. Finally, Raymond James increased their price target on Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $157.88.

Franco-Nevada Stock Up 0.3 %

NYSE FNV traded up $0.37 during trading on Monday, hitting $145.39. 1,431,840 shares of the stock traded hands, compared to its average volume of 668,592. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $161.36. The firm has a 50-day simple moving average of $145.51 and a 200-day simple moving average of $131.81. The company has a market capitalization of $28.00 billion, a P/E ratio of -46.01, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.05%. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada's dividend payout ratio 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.