Franco-Nevada Co. (NYSE:FNV) Shares Bought by Korea Investment CORP

Korea Investment CORP grew its stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 22.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 123,260 shares of the basic materials company's stock after buying an additional 22,337 shares during the period. Korea Investment CORP owned 0.06% of Franco-Nevada worth $14,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FNV. EdgePoint Investment Group Inc. increased its holdings in 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 buying an additional 537,047 shares during the period. Proficio Capital Partners LLC increased its stake in shares of Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company's stock worth $56,762,000 after acquiring an additional 478,602 shares during the period. Bennbridge Ltd acquired a new stake in shares of Franco-Nevada in the fourth quarter worth $45,877,000. Two Sigma Advisers LP raised its holdings in shares of Franco-Nevada by 60.1% during the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company's stock worth $119,069,000 after purchasing an additional 359,900 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company's stock valued at $1,004,046,000 after purchasing an additional 193,968 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group increased their price target on Franco-Nevada from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Tuesday, March 11th. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a report on Tuesday, February 11th. Raymond James raised their price objective on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday, March 19th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus price target of $157.88.

Franco-Nevada Stock Down 8.7 %

Shares of FNV stock traded down $13.86 during trading hours on Friday, hitting $144.86. 1,961,563 shares of the company's stock were exchanged, compared to its average volume of 665,558. The firm has a 50 day moving average of $145.19 and a two-hundred day moving average of $131.57. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $161.36. The firm has a market cap of $27.89 billion, a P/E ratio of -45.84, a P/E/G ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $304.33 million. During the same period in the prior year, the business posted $0.90 earnings per share. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. On average, equities analysts forecast that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a 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 payout ratio is presently 53.15%.

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.