Vanguard Personalized Indexing Management LLC Raises Stake in Franco-Nevada Co. (NYSE:FNV)

Vanguard Personalized Indexing Management LLC boosted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,640 shares of the basic materials company’s stock after purchasing an additional 83 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Franco-Nevada were worth $239,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Van ECK Associates Corp increased its position in Franco-Nevada by 11.8% during the 4th quarter. Van ECK Associates Corp now owns 9,146,164 shares of the basic materials company’s stock valued at $1,248,249,000 after buying an additional 966,243 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Franco-Nevada by 3.0% during the third quarter. Vanguard Group Inc. now owns 6,670,398 shares of the basic materials company’s stock valued at $796,979,000 after acquiring an additional 192,144 shares in the last quarter. Jarislowsky Fraser Ltd boosted its stake in Franco-Nevada by 5.1% in the 4th quarter. Jarislowsky Fraser Ltd now owns 3,186,252 shares of the basic materials company’s stock worth $434,028,000 after purchasing an additional 153,994 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Franco-Nevada by 15.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 2,939,995 shares of the basic materials company’s stock valued at $400,595,000 after purchasing an additional 382,969 shares during the last quarter. Finally, Victory Capital Management Inc. increased its stake in Franco-Nevada by 3.5% during the 1st quarter. Victory Capital Management Inc. now owns 2,376,570 shares of the basic materials company’s stock valued at $346,504,000 after purchasing an additional 80,175 shares in the last quarter. 66.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HC Wainwright upped their target price on shares of Franco-Nevada from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th. TD Securities cut their target price on Franco-Nevada from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, August 10th. Stifel Nicolaus upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. CSFB lowered their target price on shares of Franco-Nevada from $157.00 to $150.00 and set a “neutral” rating on the stock in a research note on Thursday, August 17th. Finally, TheStreet cut shares of Franco-Nevada from a “b” rating to a “c+” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Hold” and an average target price of $178.00.

Franco-Nevada Stock Down 0.3 %

Shares of NYSE:FNV opened at $143.51 on Friday. The firm’s 50 day moving average price is $141.73 and its 200-day moving average price is $144.17. The stock has a market capitalization of $27.56 billion, a PE ratio of 41.68, a price-to-earnings-growth ratio of 10.41 and a beta of 0.70. Franco-Nevada Co. has a twelve month low of $109.70 and a twelve month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 8th. The basic materials company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.12. Franco-Nevada had a net margin of 53.88% and a return on equity of 10.20%. The business had revenue of $329.90 million for the quarter, compared to the consensus estimate of $324.06 million. During the same period last year, the firm earned $1.02 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts expect that Franco-Nevada Co. will post 3.39 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders of record on Thursday, September 14th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Wednesday, September 13th. Franco-Nevada’s dividend payout ratio is presently 39.42%.

Franco-Nevada Profile

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.