Franco-Nevada Co. (NYSE:FNV) Stake Raised by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,958 shares of the basic materials company’s stock after buying an additional 1,274 shares during the period. Metis Global Partners LLC’s holdings in Franco-Nevada were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. VisionPoint Advisory Group LLC bought a new stake in shares of Franco-Nevada during the third quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Franco-Nevada during the 4th quarter valued at $34,000. Allworth Financial LP grew its holdings in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 345 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Franco-Nevada by 277.6% during the 4th quarter. Blue Trust Inc. now owns 589 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 433 shares in the last quarter. Finally, Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada during the 3rd quarter valued at $71,000. Institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on FNV shares. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America lowered their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. HC Wainwright boosted their price target on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research note on Thursday, April 11th. Finally, Jefferies Financial Group raised their price objective on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Stock Performance

NYSE:FNV opened at $126.36 on Thursday. The firm’s 50-day moving average is $117.97 and its 200-day moving average is $114.82. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $160.86. The company has a market cap of $24.30 billion, a price-to-earnings ratio of -50.75, a PEG ratio of 6.29 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the prior year, the firm posted $0.79 EPS. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities analysts predict that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.14%. Franco-Nevada’s dividend payout ratio is currently -57.83%.

Franco-Nevada 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.