Bank of New York Mellon Corp Buys 6,355 Shares of Franco-Nevada Co. (NYSE:FNV)

Bank of New York Mellon Corp increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 171,005 shares of the basic materials company’s stock after purchasing an additional 6,355 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Franco-Nevada worth $20,109,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after buying an additional 193,968 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Franco-Nevada by 13.9% in 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 acquiring an additional 424,810 shares during the period. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares during the period. National Bank of Canada FI grew its stake in Franco-Nevada by 2.2% during the third quarter. National Bank of Canada FI now owns 1,380,730 shares of the basic materials company’s stock valued at $171,513,000 after acquiring an additional 29,512 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Franco-Nevada by 76.5% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock worth $159,530,000 after acquiring an additional 556,894 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Down 0.5 %

Shares of NYSE FNV opened at $142.62 on Tuesday. The stock has a market cap of $27.46 billion, a price-to-earnings ratio of -45.13, a P/E/G ratio of 9.78 and a beta of 0.73. The stock’s 50-day moving average is $133.80 and its 200 day moving average is $127.30. Franco-Nevada Co. has a 1-year low of $111.98 and a 1-year high of $148.02.

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

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders 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 yield of 1.07%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio is presently -48.10%.

Analyst Upgrades and Downgrades

FNV has been the subject of several analyst reports. HC Wainwright reissued a “buy” rating and issued a $155.00 price target on shares of Franco-Nevada in a report on Tuesday, January 28th. UBS Group assumed coverage on Franco-Nevada in a research note on Monday, November 18th. They set a “buy” rating and a $160.00 price objective for the company. StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday. Royal Bank of Canada lifted their price target on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.71.

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.