Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Spire Wealth Management

Spire Wealth Management boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 12.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,033 shares of the basic materials company’s stock after acquiring an additional 344 shares during the period. Spire Wealth Management’s holdings in Franco-Nevada were worth $357,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FNV. Covea Finance boosted its stake in Franco-Nevada by 2.7% in the fourth quarter. Covea Finance now owns 101,320 shares of the basic materials company’s stock valued at $11,895,000 after acquiring an additional 2,700 shares in the last quarter. M&G PLC lifted its holdings in shares of Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares during the last quarter. Telemark Asset Management LLC boosted its position in shares of Franco-Nevada by 66.7% in the 3rd quarter. Telemark Asset Management LLC now owns 50,000 shares of the basic materials company’s stock valued at $6,212,000 after purchasing an additional 20,000 shares during the period. Horizon Kinetics Asset Management LLC boosted its position in shares of Franco-Nevada by 1.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 935,834 shares of the basic materials company’s stock valued at $116,277,000 after purchasing an additional 17,232 shares during the period. Finally, Victory Capital Management Inc. increased its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock worth $433,538,000 after buying an additional 424,810 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FNV. Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. UBS Group initiated coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Finally, HC Wainwright reiterated a “buy” rating and issued a $155.00 price objective on shares of Franco-Nevada in a research report on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Trading Up 0.0 %

NYSE:FNV opened at $141.72 on Friday. The firm has a market capitalization of $27.29 billion, a PE ratio of -44.85, a price-to-earnings-growth ratio of 6.12 and a beta of 0.74. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $142.32. The stock has a 50 day moving average of $124.78 and a 200-day moving average of $124.61.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, analysts predict that Franco-Nevada Co. will post 3.19 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -45.57%.

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.