Ironwood Investment Management LLC Raises Stock Position in Franco-Nevada Co. (NYSE:FNV)

Ironwood Investment Management LLC grew its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,307 shares of the basic materials company’s stock after buying an additional 232 shares during the period. Ironwood Investment Management LLC’s holdings in Franco-Nevada were worth $859,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FNV. Laurel Wealth Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth approximately $47,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $52,000. Erste Asset Management GmbH purchased a new stake in Franco-Nevada in the 3rd quarter valued at about $55,000. SBI Securities Co. Ltd. acquired a new position in Franco-Nevada in the fourth quarter valued at about $73,000. Finally, Jones Financial Companies Lllp boosted its stake in Franco-Nevada by 25.6% during the fourth 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 during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 2.2 %

Franco-Nevada stock opened at $153.45 on Friday. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $153.84. The stock has a market cap of $29.55 billion, a P/E ratio of -48.56, a price-to-earnings-growth ratio of 9.78 and a beta of 0.73. The company has a fifty day simple moving average of $136.05 and a 200-day simple moving average of $127.90.

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

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently 53.15%.

Analysts Set New Price Targets

Several equities analysts have recently commented on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. UBS Group increased their target price on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. Scotiabank increased their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, Royal Bank of Canada lifted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $153.63.

Franco-Nevada Company 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.