Franco-Nevada Co. (NYSE:FNV) Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC lifted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,366,544 shares of the basic materials company’s stock after purchasing an additional 107,043 shares during the quarter. First Eagle Investment Management LLC owned about 1.75% of Franco-Nevada worth $395,113,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FNV. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada in the 4th quarter worth about $47,000. Point72 DIFC Ltd purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth about $52,000. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the 3rd quarter worth about $55,000. SBI Securities Co. Ltd. purchased a new stake in shares of Franco-Nevada in the 4th quarter worth about $73,000. Finally, Jones Financial Companies Lllp boosted its position in shares of Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock worth $73,000 after buying an additional 126 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. Raymond James upped their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday. Finally, StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Price Performance

Shares of FNV stock opened at $150.14 on Friday. The firm has a market cap of $28.91 billion, a P/E ratio of -47.51, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $153.35. The firm’s 50-day simple moving average is $135.47 and its 200-day simple moving average is $127.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 EPS. Analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is 53.15%.

About Franco-Nevada

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.