Franco-Nevada Co. (NYSE:FNV) Stock Position Lifted by EdgePoint Investment Group Inc.

EdgePoint Investment Group Inc. grew its holdings in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 0.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,772,446 shares of the basic materials company's stock after purchasing an additional 12,769 shares during the quarter. Franco-Nevada makes up approximately 2.8% of EdgePoint Investment Group Inc.'s portfolio, making the stock its 16th largest holding. EdgePoint Investment Group Inc. owned 1.44% of Franco-Nevada worth $328,751,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FNV. Mechanics Financial Corp lifted its stake in shares of Franco-Nevada by 150.0% during the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company's stock worth $30,000 after purchasing an additional 150 shares during the period. Mather Group LLC. acquired a new stake in Franco-Nevada in the 2nd quarter worth about $33,000. Kings Path Partners LLC purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $36,000. Fortis Group Advisors LLC increased its stake in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 176 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its holdings in shares of Franco-Nevada by 37.1% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company's stock worth $52,000 after acquiring an additional 119 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. StockNews.com raised shares of Franco-Nevada from a "sell" rating to a "hold" rating in a research note on Thursday, August 22nd. Bank of America upped their price target on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a "buy" rating in a research report on Wednesday, June 26th. Jefferies Financial Group raised their price objective on Franco-Nevada from $129.00 to $133.00 and gave the company a "hold" rating in a research report on Friday, July 12th. Finally, TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Thursday, August 15th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $152.75.

Franco-Nevada Stock Performance

Shares of FNV stock traded down $1.18 during trading hours on Thursday, hitting $128.78. 614,058 shares of the company were exchanged, compared to its average volume of 652,183. The stock has a market capitalization of $24.78 billion, a price-to-earnings ratio of -52.14, a P/E/G ratio of 21.28 and a beta of 0.76. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $142.60. The business's 50-day simple moving average is $123.47 and its two-hundred day simple moving average is $121.84.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.03). The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. Franco-Nevada had a positive return on equity of 10.56% and a negative net margin of 51.64%. Franco-Nevada's revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, analysts anticipate that Franco-Nevada Co. will post 3.23 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Thursday, September 12th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.12%. Franco-Nevada's payout ratio is -57.83%.

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.