5,642 Shares in Franco-Nevada Co. (NYSE:FNV) Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,642 shares of the basic materials company’s stock, valued at approximately $625,000.

Other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp grew its stake in shares of Franco-Nevada by 15.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock valued at $163,156,000 after buying an additional 198,144 shares during the period. Vanguard Group Inc. grew its stake in shares of Franco-Nevada by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock valued at $948,364,000 after buying an additional 112,274 shares during the period. Fielder Capital Group LLC purchased a new stake in shares of Franco-Nevada in the 4th quarter valued at approximately $906,000. Beddow Capital Management Inc. boosted its position in shares of Franco-Nevada by 3.8% during the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after purchasing an additional 2,059 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Franco-Nevada by 11.9% during the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock worth $65,628,000 after purchasing an additional 52,401 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FNV shares. Raymond James increased their price objective 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. Scotiabank increased their price objective on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research report on Thursday. HC Wainwright increased their price objective on shares of Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. TheStreet cut shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Finally, Bank of America lowered 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 report on Monday, March 18th. Six 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 stock currently has an average rating of “Hold” and an average target price of $148.70.

Check Out Our Latest Research Report on Franco-Nevada

Franco-Nevada Price Performance

Shares of FNV stock opened at $122.01 on Monday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $151.63. The firm has a 50 day moving average of $121.37 and a two-hundred day moving average of $114.54.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its quarterly earnings data 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. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. During the same period last year, the business earned $0.79 EPS. The company’s revenue was down 7.1% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Co. will post 3.17 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. Franco-Nevada’s payout ratio is -57.43%.

Franco-Nevada Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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