Franklin Resources Inc. Has $9.96 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Franklin Resources Inc. raised its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,232 shares of the basic materials company’s stock after buying an additional 6,052 shares during the quarter. Franklin Resources Inc.’s holdings in Franco-Nevada were worth $9,957,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in Franco-Nevada by 0.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 12,286,603 shares of the basic materials company’s stock worth $1,456,208,000 after purchasing an additional 64,429 shares during the period. Van ECK Associates Corp grew its holdings in shares of Franco-Nevada by 1.8% during the second quarter. Van ECK Associates Corp now owns 8,626,736 shares of the basic materials company’s stock valued at $1,022,452,000 after buying an additional 151,566 shares in the last quarter. Victory Capital Management Inc. raised its position in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after buying an additional 424,810 shares during the period. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 19.4% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in Franco-Nevada by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 3,260,300 shares of the basic materials company’s stock valued at $386,597,000 after acquiring an additional 47,311 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research analyst reports. Jefferies Financial Group reduced their price target on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research report on Thursday, October 17th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 18th. Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. UBS Group started coverage on Franco-Nevada in a research note on Monday, November 18th. They issued a “buy” rating and a $160.00 target price on the stock. Finally, HC Wainwright cut their price target on Franco-Nevada from $200.00 to $155.00 and set a “buy” rating for the company in a research note on Friday. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $145.33.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $116.21 on Friday. The business’s 50-day simple moving average is $124.60 and its 200-day simple moving average is $123.27. Franco-Nevada Co. has a 52 week low of $103.64 and a 52 week high of $137.60. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of -36.78 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Wednesday, November 6th. The basic materials company reported $0.80 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.03). Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $275.70 million for the quarter, compared to analyst estimates of $279.11 million. During the same quarter last year, the business earned $0.91 EPS. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, equities research analysts forecast that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, December 5th. Franco-Nevada’s dividend payout ratio is -45.57%.

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.