PFG Investments LLC Buys New Stake in Franco-Nevada Co. (NYSE:FNV)

PFG Investments LLC bought a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,405 shares of the basic materials company’s stock, valued at approximately $644,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. QV Investors Inc. bought a new stake in Franco-Nevada during the first quarter worth about $23,925,000. Raymond James & Associates grew its stake in Franco-Nevada by 1.3% during the first quarter. Raymond James & Associates now owns 185,978 shares of the basic materials company’s stock worth $22,161,000 after buying an additional 2,467 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in Franco-Nevada by 52.6% during the first quarter. Maryland State Retirement & Pension System now owns 10,013 shares of the basic materials company’s stock worth $1,191,000 after buying an additional 3,452 shares during the last quarter. Tempus Wealth Planning LLC bought a new stake in Franco-Nevada during the first quarter worth about $472,000. Finally, Capital Asset Advisory Services LLC grew its stake in Franco-Nevada by 9.4% during the first quarter. Capital Asset Advisory Services LLC now owns 32,166 shares of the basic materials company’s stock worth $3,934,000 after buying an additional 2,758 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on FNV shares. Bank of America decreased their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. Scotiabank upped their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. TheStreet lowered shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James upped their target price on shares of Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Finally, Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $148.60.

Franco-Nevada Trading Up 0.4 %

Shares of FNV stock traded up $0.49 during trading hours on Monday, hitting $123.42. 662,343 shares of the company were exchanged, compared to its average volume of 733,205. The business has a 50 day moving average of $115.31 and a two-hundred day moving average of $115.51. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $161.25. The company has a market capitalization of $23.73 billion, a PE ratio of -50.77, a PEG ratio of 6.27 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. The company had revenue of $303.30 million during the quarter. On average, research analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.17%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is -55.97%.

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.