O Brien Greene & Co. Inc grew its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.6% during the first quarter, Holdings Channel reports. The institutional investor owned 47,382 shares of the basic materials company’s stock after buying an additional 8,725 shares during the period. Franco-Nevada comprises 2.4% of O Brien Greene & Co. Inc’s holdings, making the stock its 15th biggest position. O Brien Greene & Co. Inc’s holdings in Franco-Nevada were worth $5,936,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Atlas Private Wealth Advisors purchased a new position in shares of Franco-Nevada during the 1st quarter valued at about $25,000. Valeo Financial Advisors LLC lifted its position in shares of Franco-Nevada by 63.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 240 shares of the basic materials company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. Bogart Wealth LLC purchased a new position in Franco-Nevada in the 1st quarter worth approximately $33,000. St. Johns Investment Management Company LLC purchased a new position in Franco-Nevada in the 1st quarter worth approximately $34,000. Finally, First Horizon Advisors Inc. purchased a new position in Franco-Nevada in the 1st quarter worth approximately $50,000. 68.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently commented on FNV. JPMorgan Chase & Co. began coverage on Franco-Nevada in a report on Thursday, March 4th. They issued a “neutral” rating and a $152.00 price target on the stock. TD Securities boosted their price target on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, April 20th. Industrial Alliance Securities reissued a “buy” rating and issued a C$250.00 price target on shares of Franco-Nevada in a report on Friday. Canaccord Genuity reissued a “buy” rating on shares of Franco-Nevada in a report on Tuesday, April 20th. Finally, Royal Bank of Canada boosted their price target on Franco-Nevada from $130.00 to $135.00 and gave the stock a “sector perform” rating in a report on Monday, April 26th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Franco-Nevada has a consensus rating of “Hold” and a consensus target price of $163.85.
Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 5th. The basic materials company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The firm had revenue of $308.90 million for the quarter, compared to the consensus estimate of $312.75 million. Franco-Nevada had a return on equity of 10.64% and a net margin of 54.79%. Equities analysts expect that Franco-Nevada Co. will post 3.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 24th. Stockholders of record on Thursday, June 10th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.79%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.26. Franco-Nevada’s payout ratio is currently 28.78%.
Franco-Nevada Corporation operates as a gold-focused royalty and stream company in the United States, Latin America, Canada, Australia, Europe, and Africa, and internationally. It operates through two segment, Mining and Energy. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and energy comprising oil, gas, and natural gas liquids.
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