Markel Group Inc. Raises Position in Franco-Nevada Co. (NYSE:FNV)

Markel Group Inc. raised its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 41.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 345,500 shares of the basic materials company's stock after purchasing an additional 100,500 shares during the period. Markel Group Inc. owned 0.18% of Franco-Nevada worth $42,929,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Franco-Nevada by 116.2% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company's stock worth $1,028,000 after acquiring an additional 4,637 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Franco-Nevada in the first quarter worth approximately $495,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock valued at $86,287,000 after purchasing an additional 706,919 shares in the last quarter. Avantax Advisory Services Inc. bought a new stake in Franco-Nevada during the first quarter valued at approximately $1,132,000. Finally, M&G PLC grew its stake in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company's stock worth $208,645,000 after buying an additional 51,996 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE FNV traded down $3.97 during midday trading on Friday, hitting $122.44. 877,398 shares of the company traded hands, compared to its average volume of 630,356. The stock has a 50-day moving average price of $126.66 and a 200 day moving average price of $124.13. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $137.60.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. Franco-Nevada's revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. On average, sell-side analysts expect that Franco-Nevada Co. will post 3.25 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $1.44 annualized dividend and a dividend yield of 1.18%. Franco-Nevada's payout ratio is -45.57%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Thursday, August 15th. HC Wainwright raised their price target on Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a research report on Friday. Scotiabank dropped their price objective on Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating on the stock in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $156.57.

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.