Mediolanum International Funds Ltd Purchases Shares of 69,987 Franco-Nevada Co. (NYSE:FNV)

Mediolanum International Funds Ltd purchased a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 69,987 shares of the basic materials company’s stock, valued at approximately $8,340,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chevy Chase Trust Holdings LLC increased its holdings in shares of Franco-Nevada by 98.1% in the first quarter. Chevy Chase Trust Holdings LLC now owns 614,869 shares of the basic materials company’s stock valued at $73,268,000 after purchasing an additional 304,413 shares during the period. Quent Capital LLC increased its holdings in shares of Franco-Nevada by 155.7% in the first quarter. Quent Capital LLC now owns 2,038 shares of the basic materials company’s stock valued at $243,000 after purchasing an additional 1,241 shares during the period. Tobam increased its holdings in shares of Franco-Nevada by 47.1% in the first quarter. Tobam now owns 3,517 shares of the basic materials company’s stock valued at $419,000 after purchasing an additional 1,126 shares during the period. Capstone Investment Advisors LLC increased its holdings in shares of Franco-Nevada by 123.3% in the first quarter. Capstone Investment Advisors LLC now owns 5,209 shares of the basic materials company’s stock valued at $621,000 after purchasing an additional 2,876 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of Franco-Nevada by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 14,248 shares of the basic materials company’s stock valued at $1,698,000 after purchasing an additional 963 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research reports. Bank of America increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Raymond James raised their target price on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Scotiabank raised their target price on Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Jefferies Financial Group raised their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Finally, HC Wainwright raised their target price on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Hold” and an average price target of $151.89.

Franco-Nevada Stock Up 2.5 %

FNV traded up $3.05 during trading on Wednesday, hitting $125.67. The company’s stock had a trading volume of 326,471 shares, compared to its average volume of 684,422. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $149.06. The business’s fifty day simple moving average is $121.96 and its 200 day simple moving average is $115.96.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the company earned $0.79 earnings per share. Franco-Nevada’s quarterly revenue was down 7.1% compared to the same quarter last year. Analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Thursday, June 13th. Franco-Nevada’s payout ratio is currently -57.83%.

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.