Magnetar Financial LLC Invests $290,000 in Franco-Nevada Co. (NYSE:FNV)

Magnetar Financial LLC bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,464 shares of the basic materials company's stock, valued at approximately $290,000.

Several other institutional investors also recently bought and sold shares of the company. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter worth about $47,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada in the 3rd quarter worth approximately $52,000. Harbour Investments Inc. grew its position in Franco-Nevada by 25.8% during 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 last quarter. Erste Asset Management GmbH acquired a new position in Franco-Nevada during the 3rd quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Franco-Nevada in the fourth quarter worth $73,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on FNV shares. Scotiabank boosted their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a "sector perform" rating in a report on Tuesday, March 11th. Raymond James increased their price objective on Franco-Nevada from $160.00 to $162.00 and gave the company an "outperform" rating in a report on Tuesday, March 11th. HC Wainwright lifted their target price on Franco-Nevada from $165.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday. StockNews.com upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday, March 19th. Finally, Royal Bank of Canada raised their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and an average target price of $155.50.

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Franco-Nevada Price Performance

NYSE:FNV traded down $2.63 during trading hours on Wednesday, reaching $153.19. The company had a trading volume of 488,246 shares, compared to its average volume of 622,810. The firm has a market cap of $29.50 billion, a PE ratio of -48.48, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $158.52. The business's 50 day moving average price is $141.36 and its 200-day moving average price is $130.04.

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 (EPS) for the quarter, beating 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 firm had revenue of $321.00 million during the quarter, compared to analysts' expectations of $304.33 million. During the same period in the previous year, the business posted $0.90 EPS. The business's revenue was up 5.8% compared to the same quarter last year. On average, analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders 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 a boost from Franco-Nevada's previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.99%. Franco-Nevada's dividend payout ratio (DPR) is 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.