Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 246.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,164,394 shares of the basic materials company’s stock after acquiring an additional 828,166 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.60% of Franco-Nevada worth $136,796,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of FNV. Norges Bank purchased a new position in Franco-Nevada in the 4th quarter valued at approximately $237,643,000. EdgePoint Investment Group Inc. raised its stake in shares of Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Proficio Capital Partners LLC raised its stake 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 acquiring an additional 478,602 shares in the last quarter. Bennbridge Ltd purchased a new position in Franco-Nevada in the fourth quarter valued at $45,877,000. Finally, Two Sigma Advisers LP grew its stake in Franco-Nevada by 60.1% during the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock worth $119,069,000 after purchasing an additional 359,900 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. UBS Group increased their price target on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday, March 11th. HC Wainwright boosted their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Raymond James raised their price objective on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Finally, StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $155.50.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $155.36 on Monday. The stock’s 50-day moving average is $142.60 and its two-hundred day moving average is $130.60. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $159.38. The firm has a market cap of $29.92 billion, a price-to-earnings ratio of -49.16, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm had revenue of $321.00 million for the quarter, compared to the consensus estimate of $304.33 million. During the same quarter last year, the business posted $0.90 EPS. The firm’s quarterly revenue was up 5.8% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current 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 issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada’s dividend payout ratio is presently 53.15%.

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.