Coldstream Capital Management Inc. purchased a new position in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,916 shares of the basic materials company’s stock, valued at approximately $1,626,000.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. lifted its stake in shares of Franco-Nevada by 3.3% in the first quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock valued at $61,693,000 after buying an additional 12,446 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Franco-Nevada by 10.2% in the first quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock valued at $318,000 after buying an additional 184 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Franco-Nevada by 23.1% during the first quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock valued at $11,035,000 after purchasing an additional 12,993 shares in the last quarter. Aviva PLC raised its position in Franco-Nevada by 5.8% in the first quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock worth $10,040,000 after acquiring an additional 3,438 shares during the period. Finally, Vanguard Group Inc. raised its position in Franco-Nevada by 2.3% in the first quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock worth $1,014,271,000 after acquiring an additional 141,139 shares during the period. 66.69% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on FNV. Barclays boosted their price target on shares of Franco-Nevada from $111.00 to $115.00 and gave the stock an “underweight” rating in a research note on Monday, January 30th. Stifel Nicolaus lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, January 20th. StockNews.com began coverage on shares of Franco-Nevada in a report on Thursday. They issued a “hold” rating for the company. CIBC upped their price target on shares of Franco-Nevada from C$230.00 to C$240.00 in a report on Tuesday, February 7th. Finally, Raymond James lowered their price target on shares of Franco-Nevada from $158.00 to $157.00 and set an “outperform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.43.
Franco-Nevada Trading Up 4.9 %
Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last released its earnings results on Wednesday, March 15th. The basic materials company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.01. The firm had revenue of $320.40 million for the quarter, compared to the consensus estimate of $307.88 million. Franco-Nevada had a net margin of 53.25% and a return on equity of 11.12%. The company’s revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. Analysts predict that Franco-Nevada Co. will post 3.45 EPS for the current fiscal year.
Franco-Nevada Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 30th. Investors of record on Thursday, March 16th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 0.95%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, March 15th. Franco-Nevada’s dividend payout ratio is 37.26%.
Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.
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