Franco-Nevada Co. (NYSE:FNV) Shares Acquired by LPL Financial LLC

LPL Financial LLC grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 6.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,843 shares of the basic materials company's stock after acquiring an additional 1,818 shares during the period. LPL Financial LLC's holdings in Franco-Nevada were worth $3,627,000 as of its most recent SEC filing.

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

Remove Ads

Franco-Nevada Price Performance

Shares of NYSE FNV traded up $8.65 during mid-day trading on Friday, reaching $166.13. 2,125,418 shares of the company traded hands, compared to its average volume of 684,077. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $167.36. The firm has a market cap of $31.99 billion, a PE ratio of -52.57, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The stock has a fifty 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 issued its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $321.00 million for the quarter, compared to analysts' expectations of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 EPS. As a group, analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.91%. This is an increase 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 presently 53.15%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on FNV shares. StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. Raymond James boosted their price objective on Franco-Nevada from $162.00 to $181.00 and gave the company an "outperform" rating in a research report on Friday, April 4th. Scotiabank increased their target price 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. UBS Group boosted their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday. Finally, TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $160.38.

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.