Victory Capital Management Inc. Increases Holdings in Franco-Nevada Co. (NYSE:FNV)

Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 13.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,489,240 shares of the basic materials company's stock after acquiring an additional 424,810 shares during the period. Victory Capital Management Inc. owned about 1.81% of Franco-Nevada worth $433,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new stake in shares of Franco-Nevada in the 2nd quarter valued at about $276,446,000. M&G Plc bought a new stake in shares of Franco-Nevada in the 1st quarter valued at about $219,971,000. EdgePoint Investment Group Inc. boosted its holdings in shares of Franco-Nevada by 68.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 2,759,677 shares of the basic materials company's stock valued at $328,972,000 after buying an additional 1,117,523 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Franco-Nevada by 3,404.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company's stock valued at $86,287,000 after buying an additional 706,919 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Franco-Nevada in the 1st quarter valued at about $47,681,000. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FNV has been the subject of a number of recent analyst reports. HC Wainwright lifted their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a "buy" rating in a research note on Friday. StockNews.com raised shares of Franco-Nevada from a "sell" rating to a "hold" rating in a research report on Thursday, August 22nd. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a "hold" rating for the company in a research report on Thursday, October 17th. Bank of America lowered shares of Franco-Nevada from a "buy" rating to a "neutral" rating and cut their target price for the company from $142.00 to $139.00 in a report on Tuesday, October 1st. Finally, Scotiabank cut 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $156.57.

Franco-Nevada Trading Down 2.4 %

FNV stock traded down $2.88 during trading on Tuesday, reaching $114.95. 1,155,741 shares of the stock were exchanged, compared to its average volume of 660,703. The business has a 50 day moving average price of $126.49 and a 200-day moving average price of $124.12. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $137.60. The firm has a market capitalization of $22.13 billion, a price-to-earnings ratio of -36.38, a P/E/G ratio of 20.59 and a beta of 0.75.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th will be paid a $0.36 dividend. The ex-dividend date is Thursday, December 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.25%. Franco-Nevada's payout ratio is presently -45.57%.

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.