Price T Rowe Associates Inc. MD Purchases 400,384 Shares of Franco-Nevada Co. (NYSE:FNV)

Price T Rowe Associates Inc. MD boosted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 10.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,286,661 shares of the basic materials company’s stock after acquiring an additional 400,384 shares during the period. Price T Rowe Associates Inc. MD owned approximately 2.23% of Franco-Nevada worth $504,069,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Franco-Nevada during the 4th quarter valued at about $237,643,000. Arrowstreet Capital Limited Partnership raised its holdings in Franco-Nevada by 246.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company’s stock worth $136,796,000 after buying an additional 828,166 shares during the period. Capital World Investors lifted its stake in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after buying an additional 711,591 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in shares of Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after buying an additional 478,602 shares during the period. Finally, Bennbridge Ltd bought a new stake in shares of Franco-Nevada during the fourth quarter worth $45,877,000. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 0.7 %

NYSE FNV opened at $171.36 on Friday. The firm has a market capitalization of $33.00 billion, a P/E ratio of -54.23, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The firm’s fifty day moving average price is $152.88 and its two-hundred day moving average price is $135.61. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $178.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $321.00 million for the quarter, compared to analysts’ expectations of $304.33 million. During the same period in the prior year, the firm earned $0.90 EPS. Franco-Nevada’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of research analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research note on Wednesday, April 2nd. HC Wainwright increased their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. BMO Capital Markets assumed coverage on Franco-Nevada in a research report on Wednesday, April 16th. They issued an “outperform” rating on the stock. Scotiabank raised their price target on shares of Franco-Nevada from $150.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. Finally, TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $162.25.

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.