70,635 Shares in Franco-Nevada Co. (NYSE:FNV) Bought by Westwood Holdings Group Inc.

Westwood Holdings Group Inc. purchased a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 70,635 shares of the basic materials company’s stock, valued at approximately $8,372,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $1,456,208,000 after buying an additional 64,429 shares during the period. FIL Ltd lifted its holdings in Franco-Nevada by 7.8% in the fourth quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after acquiring an additional 659,324 shares during the period. Van ECK Associates Corp lifted its holdings in Franco-Nevada by 1.8% in 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 acquiring an additional 151,566 shares during the period. Vanguard Group Inc. boosted its position in Franco-Nevada by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,374,086 shares of the basic materials company’s stock worth $878,696,000 after purchasing an additional 129,876 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of Franco-Nevada by 2.7% during the 1st quarter. Capital World Investors now owns 4,597,472 shares of the basic materials company’s stock worth $547,807,000 after purchasing an additional 120,367 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $128.36 on Monday. The business has a 50 day simple moving average of $123.49 and a two-hundred day simple moving average of $121.59. The stock has a market capitalization of $24.70 billion, a P/E ratio of -51.55, a PEG ratio of 20.59 and a beta of 0.76. Franco-Nevada Co. has a 12 month low of $102.29 and a 12 month high of $143.02.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. During the same quarter in the previous year, the business posted $0.95 EPS. The company’s revenue for the quarter was down 21.2% on a year-over-year basis. As a group, research analysts anticipate that Franco-Nevada Co. will post 3.2 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Thursday, September 12th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.44 annualized dividend and a yield of 1.12%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FNV. StockNews.com upgraded shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Bank of America raised their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Scotiabank upped their price target on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Finally, TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $152.75.

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.