Russell Investments Group Ltd. Buys 8,311 Shares of Franco-Nevada Co. (NYSE:FNV)

Russell Investments Group Ltd. grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 7.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 124,688 shares of the basic materials company’s stock after purchasing an additional 8,311 shares during the period. Russell Investments Group Ltd.’s holdings in Franco-Nevada were worth $13,879,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC bought a new position in shares of Franco-Nevada in the third quarter valued at approximately $30,000. Castleview Partners LLC bought a new position in shares of Franco-Nevada in the third quarter valued at approximately $33,000. Creative Financial Designs Inc. ADV bought a new position in shares of Franco-Nevada in the fourth quarter valued at approximately $34,000. Allworth Financial LP grew its holdings in shares of Franco-Nevada by 5,750.0% in the fourth 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. Finally, FinTrust Capital Advisors LLC grew its holdings in shares of Franco-Nevada by 209.0% in the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 209 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FNV. Scotiabank upped their price objective on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. Jefferies Financial Group upped 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. Raymond James upped their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Finally, Bank of America dropped their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $123.24 on Friday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $161.25. The company has a market capitalization of $23.70 billion, a PE ratio of -49.49, a price-to-earnings-growth ratio of 6.22 and a beta of 0.72. The business’s fifty day moving average is $116.74 and its 200 day moving average is $115.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The business had revenue of $256.80 million for the quarter, compared to analysts’ expectations of $250.50 million. Franco-Nevada had a positive return on equity of 10.57% and a negative net margin of 39.88%. The firm’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. On average, sell-side analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a $0.36 dividend. The ex-dividend date is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. Franco-Nevada’s dividend payout ratio is presently -54.62%.

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.