Legal & General Group Plc decreased its position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 28.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 859,848 shares of the basic materials company's stock after selling 341,661 shares during the period. Legal & General Group Plc owned about 0.45% of Franco-Nevada worth $100,991,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Franco-Nevada during the fourth quarter valued at $237,643,000. Arrowstreet Capital Limited Partnership lifted its position in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after acquiring an additional 828,166 shares during the period. Proficio Capital Partners LLC boosted its stake in Franco-Nevada by 11,659.0% during 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 in the last quarter. Bennbridge Ltd purchased a new stake in Franco-Nevada in the fourth quarter worth about $45,877,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Franco-Nevada by 31.2% during the fourth quarter. Geode Capital Management LLC now owns 1,101,854 shares of the basic materials company's stock valued at $129,870,000 after purchasing an additional 261,951 shares during the last quarter. Institutional investors own 77.06% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently weighed in on FNV shares. TD Securities downgraded Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a research note on Tuesday, March 11th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. UBS Group lifted their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday. StockNews.com upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Finally, Scotiabank raised their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a research note on Tuesday, March 11th. Six 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $160.38.
Check Out Our Latest Research Report on FNV
Franco-Nevada Stock Performance
Shares of FNV stock traded up $8.65 on Friday, reaching $166.13. The stock had a trading volume of 2,125,418 shares, compared to its average volume of 684,077. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $167.36. The stock has a market cap of $31.99 billion, a P/E ratio of -52.57, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The company has a 50 day simple moving average of $147.54 and a 200 day simple moving average of $132.76.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. The business had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business's quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.90 EPS. On average, equities research analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.
Franco-Nevada Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, March 13th. This is a boost from Franco-Nevada's previous quarterly dividend of $0.36. Franco-Nevada's dividend payout ratio (DPR) is currently 53.15%.
Franco-Nevada Company Profile
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Free Report)
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.
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