Raymond James Financial Inc. Acquires New Position in Franco-Nevada Co. (NYSE:FNV)

Raymond James Financial Inc. acquired a new stake in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 104,432 shares of the basic materials company's stock, valued at approximately $12,280,000. Raymond James Financial Inc. owned 0.05% of Franco-Nevada at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. Natixis Advisors LLC raised its position in shares of Franco-Nevada by 6.5% during the 3rd quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company's stock valued at $2,535,000 after purchasing an additional 1,237 shares during the period. Swiss National Bank raised its position in shares of Franco-Nevada by 0.8% during the 3rd quarter. Swiss National Bank now owns 581,560 shares of the basic materials company's stock valued at $72,347,000 after purchasing an additional 4,900 shares during the period. America First Investment Advisors LLC grew its stake in Franco-Nevada by 4.3% during the third quarter. America First Investment Advisors LLC now owns 161,765 shares of the basic materials company's stock valued at $20,099,000 after acquiring an additional 6,717 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Franco-Nevada by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 407,137 shares of the basic materials company's stock valued at $50,623,000 after acquiring an additional 19,589 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Franco-Nevada by 33.1% during the third quarter. Citigroup Inc. now owns 36,710 shares of the basic materials company's stock valued at $4,565,000 after acquiring an additional 9,119 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

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Franco-Nevada Trading Up 0.2 %

Shares of FNV stock traded up $0.32 during trading hours on Friday, reaching $155.85. 808,947 shares of the stock were exchanged, compared to its average volume of 620,049. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $156.82. The company's 50-day moving average price is $139.63 and its 200-day moving average price is $129.29. The firm has a market capitalization of $30.01 billion, a price-to-earnings ratio of -49.32, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, topping analysts' consensus estimates 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 company earned $0.90 EPS. The firm's revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid 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 0.98%. Franco-Nevada's payout ratio is currently 53.15%.

Analyst Ratings Changes

FNV has been the subject of several research analyst reports. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Royal Bank of Canada raised their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 11th. UBS Group raised their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. HC Wainwright raised their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Wednesday. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $153.63.

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.