Bank of New York Mellon Corp Grows Stock Holdings in Franco-Nevada Corporation (NYSE:FNV)

Bank of New York Mellon Corp grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 2.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 175,843 shares of the basic materials company’s stock after purchasing an additional 4,838 shares during the period. Bank of New York Mellon Corp owned approximately 0.09% of Franco-Nevada worth $27,706,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Franco-Nevada during the 4th quarter valued at $237,643,000. EdgePoint Investment Group Inc. boosted its holdings in Franco-Nevada by 49.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock worth $582,100,000 after buying an additional 1,650,358 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after buying an additional 828,166 shares during the period. Capital World Investors boosted its holdings in shares of Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments bought a new position in shares of Franco-Nevada during the 4th quarter valued at about $52,857,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 0.6%

Shares of FNV stock opened at $156.16 on Thursday. The company has a market capitalization of $30.08 billion, a PE ratio of 48.80, a price-to-earnings-growth ratio of 2.15 and a beta of 0.41. The firm has a fifty day simple moving average of $165.17 and a 200-day simple moving average of $152.64. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The firm’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Equities research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.97%. Franco-Nevada’s dividend payout ratio (DPR) is 47.50%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, April 7th. UBS Group lifted their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Scotiabank raised their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.13.

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.