NFJ Investment Group LLC Invests $6.70 Million in Franco-Nevada Co. (NYSE:FNV)

NFJ Investment Group LLC bought a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 53,938 shares of the basic materials company's stock, valued at approximately $6,702,000.

Other large investors have also recently made changes to their positions in the company. M&G PLC lifted its stake in shares of 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 valued at $208,645,000 after purchasing an additional 51,996 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in Franco-Nevada by 3,404.9% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock worth $86,287,000 after acquiring an additional 706,919 shares during the period. Horizon Kinetics Asset Management LLC raised its position in Franco-Nevada by 1.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company's stock worth $116,277,000 after acquiring an additional 17,232 shares during the period. Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company's stock worth $433,538,000 after acquiring an additional 424,810 shares during the period. Finally, Telemark Asset Management LLC raised its position in Franco-Nevada by 66.7% during the third quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company's stock worth $6,212,000 after acquiring an additional 20,000 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 18th. Scotiabank dropped their target price on shares of Franco-Nevada from $142.00 to $141.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. HC Wainwright upped their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Bank of America lowered shares of Franco-Nevada from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Four 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 has a consensus rating of "Moderate Buy" and a consensus target price of $152.83.

Franco-Nevada Price Performance

Shares of FNV traded down $0.16 during mid-day trading on Wednesday, reaching $122.45. The stock had a trading volume of 209,811 shares, compared to its average volume of 666,062. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $137.60. The business's fifty day moving average is $125.56 and its 200 day moving average is $123.63. The firm has a market cap of $23.57 billion, a price-to-earnings ratio of -38.80 and a beta of 0.72.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.03). The company had revenue of $275.70 million for the quarter, compared to analysts' expectations of $279.11 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company's quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, sell-side analysts anticipate that Franco-Nevada Co. will post 3.22 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.