Wellington Management Group LLP Increases Holdings in Franco-Nevada Co. (NYSE:FNV)

Wellington Management Group LLP lifted its position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,225 shares of the basic materials company's stock after buying an additional 27,299 shares during the quarter. Wellington Management Group LLP owned approximately 0.05% of Franco-Nevada worth $12,359,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FNV. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada in the 4th quarter worth approximately $47,000. Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the fourth quarter worth $49,000. Harbour Investments Inc. raised its position in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after buying an additional 93 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Franco-Nevada during the fourth quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its position in Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after buying an additional 126 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNV. TD Securities cut Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target on the stock. in a report on Tuesday, March 11th. Scotiabank lifted their target price on shares of Franco-Nevada from $150.00 to $165.00 and gave the company a "sector perform" rating in a research report on Monday. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 11th. Finally, Raymond James upped their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $162.25.

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Franco-Nevada Stock Performance

NYSE:FNV traded up $1.53 during trading hours on Tuesday, reaching $170.52. The company's stock had a trading volume of 243,289 shares, compared to its average volume of 685,778. The firm has a 50-day simple moving average of $148.08 and a 200-day simple moving average of $133.07. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $171.19. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of -53.99, a PEG ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same quarter in the previous year, the company posted $0.90 EPS. Franco-Nevada's revenue for the quarter was up 5.8% on a year-over-year basis. Equities analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. This is an increase from Franco-Nevada's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada's payout ratio is presently 53.15%.

Franco-Nevada Company 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.