Spire Wealth Management Has $395,000 Stock Position in Franco-Nevada Co. (NYSE:FNV)

Spire Wealth Management raised its holdings in shares of Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) by 1,216.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,962 shares of the basic materials company’s stock after acquiring an additional 2,737 shares during the period. Spire Wealth Management’s holdings in Franco-Nevada were worth $395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Massachusetts Financial Services Co. MA increased its position in shares of Franco-Nevada by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock valued at $1,393,843,000 after buying an additional 31,642 shares in the last quarter. Vanguard Group Inc. boosted its stake in Franco-Nevada by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 6,670,398 shares of the basic materials company’s stock worth $796,979,000 after purchasing an additional 192,144 shares during the period. Renaissance Technologies LLC boosted its stake in Franco-Nevada by 0.8% in the 2nd quarter. Renaissance Technologies LLC now owns 3,500,703 shares of the basic materials company’s stock worth $499,201,000 after purchasing an additional 27,200 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Franco-Nevada by 34.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,475,452 shares of the basic materials company’s stock worth $495,309,000 after purchasing an additional 881,769 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in Franco-Nevada by 8.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock worth $357,915,000 after purchasing an additional 206,125 shares during the period. Institutional investors own 66.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Franco-Nevada from $219.00 to $214.00 and set an “outperform” rating for the company in a research note on Tuesday, November 21st. Raymond James reduced their target price on shares of Franco-Nevada from $148.00 to $141.00 and set an “outperform” rating for the company in a research note on Tuesday, December 12th. TD Securities reduced their price objective on shares of Franco-Nevada from $135.00 to $125.00 and set a “hold” rating for the company in a research note on Thursday, November 30th. Royal Bank of Canada cut their target price on shares of Franco-Nevada from $155.00 to $140.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 1st. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $159.00 to $141.00 and set a “sector perform” rating for the company in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $152.75.

Get Our Latest Analysis on Franco-Nevada

Franco-Nevada Stock Up 0.6 %

Franco-Nevada stock opened at $108.50 on Friday. The stock has a market cap of $20.85 billion, a P/E ratio of 30.65, a P/E/G ratio of 5.16 and a beta of 0.71. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $161.25. The company’s 50-day moving average price is $109.14 and its two-hundred day moving average price is $125.52.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last released its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $309.50 million for the quarter, compared to analysts’ expectations of $317.93 million. Franco-Nevada had a net margin of 55.10% and a return on equity of 10.23%. The business’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 EPS. Equities analysts anticipate that Franco-Nevada Co. will post 3.51 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be issued a $0.36 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend is Wednesday, March 13th. Franco-Nevada’s dividend payout ratio is currently 38.42%.

Franco-Nevada Company Profile

(Free Report)

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in Latin America, 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.

Featured Articles

Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.