Raymond James Financial Services Advisors Inc. Increases Holdings in Franco-Nevada Co. (NYSE:FNV)

Raymond James Financial Services Advisors Inc. increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 9.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 14,059 shares of the basic materials company’s stock after buying an additional 1,176 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Franco-Nevada were worth $1,558,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. FMR LLC grew its position in Franco-Nevada by 1.3% during the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after buying an additional 208,392 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Franco-Nevada by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock worth $1,393,843,000 after buying an additional 31,642 shares in the last quarter. Vanguard Group Inc. grew its position in Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after buying an additional 112,274 shares in the last quarter. Victory Capital Management Inc. grew its position in Franco-Nevada by 8.3% during the third quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock worth $357,915,000 after buying an additional 206,125 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Franco-Nevada by 69.9% during the first quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after buying an additional 1,102,710 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of several recent analyst reports. Raymond James boosted their target price on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday. Scotiabank reduced their target price on Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating for the company in a research report on Thursday, March 7th. Bank of America cut their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Finally, Jefferies Financial Group assumed coverage on Franco-Nevada in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $147.30.

Franco-Nevada Trading Down 0.2 %

NYSE FNV opened at $121.34 on Friday. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $161.25. The stock has a 50-day moving average of $112.71 and a 200-day moving average of $116.77. The firm has a market cap of $23.32 billion, a PE ratio of -49.93, a price-to-earnings-growth ratio of 6.77 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The company had revenue of $303.30 million during the quarter. As a group, equities research analysts forecast that Franco-Nevada Co. will post 2.68 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.19%. Franco-Nevada’s dividend payout ratio is presently -55.97%.

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.