Mackenzie Financial Corp Boosts Holdings in Franco-Nevada Co. (NYSE:FNV)

Mackenzie Financial Corp grew its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 15.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,472,264 shares of the basic materials company’s stock after acquiring an additional 198,144 shares during the quarter. Mackenzie Financial Corp’s holdings in Franco-Nevada were worth $163,156,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV raised its stake in shares of Franco-Nevada by 3.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,234 shares of the basic materials company’s stock worth $319,000 after acquiring an additional 73 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of Franco-Nevada by 4.6% in the fourth quarter. IHT Wealth Management LLC now owns 1,782 shares of the basic materials company’s stock worth $329,000 after purchasing an additional 78 shares during the last quarter. Fortune Financial Advisors LLC grew its holdings in shares of Franco-Nevada by 1.8% in the third quarter. Fortune Financial Advisors LLC now owns 4,483 shares of the basic materials company’s stock worth $598,000 after purchasing an additional 81 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Franco-Nevada by 1.7% in the third quarter. Thrivent Financial for Lutherans now owns 5,236 shares of the basic materials company’s stock worth $626,000 after purchasing an additional 85 shares during the last quarter. Finally, Alliancebernstein L.P. grew its holdings in shares of Franco-Nevada by 0.6% in the fourth quarter. Alliancebernstein L.P. now owns 16,463 shares of the basic materials company’s stock worth $2,247,000 after purchasing an additional 94 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 1.4 %

NYSE:FNV opened at $116.44 on Tuesday. The firm’s fifty day simple moving average is $113.15 and its 200 day simple moving average is $116.28. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. On average, analysts expect that Franco-Nevada Co. will post 2.75 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.24%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FNV shares. Raymond James raised their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Scotiabank cut their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a report on Thursday, March 7th. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Jefferies Financial Group started coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They issued a “hold” rating and a $117.00 target price on the stock. Finally, Bank of America cut their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $147.30.

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.