National Bank of Canada FI Buys 69,787 Shares of Franco-Nevada Co. (NYSE:FNV)

National Bank of Canada FI boosted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,474,566 shares of the basic materials company’s stock after purchasing an additional 69,787 shares during the quarter. National Bank of Canada FI owned about 0.77% of Franco-Nevada worth $164,324,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. VisionPoint Advisory Group LLC acquired a new position in shares of Franco-Nevada during the third quarter worth approximately $30,000. Castleview Partners LLC bought a new stake in Franco-Nevada in the 3rd quarter valued at $33,000. Creative Financial Designs Inc. ADV acquired a new stake in Franco-Nevada in the 4th quarter worth $34,000. Allworth Financial LP increased its holdings in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 345 shares during the period. Finally, FinTrust Capital Advisors LLC raised its position in shares of Franco-Nevada by 209.0% during the third quarter. FinTrust Capital Advisors LLC now owns 309 shares of the basic materials company’s stock valued at $41,000 after buying an additional 209 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James boosted their price target on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Scotiabank upped their target price on Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Bank of America dropped their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Finally, Jefferies Financial Group upped their target price on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $148.60.

Franco-Nevada Price Performance

Shares of FNV traded up $2.34 on Friday, hitting $123.25. The company’s stock had a trading volume of 683,906 shares, compared to its average volume of 689,409. The company has a 50 day moving average price of $116.74 and a 200 day moving average price of $115.27. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $161.25. The company has a market capitalization of $23.70 billion, a PE ratio of -49.50, a PEG ratio of 6.17 and a beta of 0.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period last year, the company posted $0.79 earnings per share. On average, equities analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 13th. Franco-Nevada’s dividend payout ratio is -54.62%.

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.