Geode Capital Management LLC Buys 261,951 Shares of Franco-Nevada Co. (NYSE:FNV)

Geode Capital Management LLC boosted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 31.2% during the 4th quarter, HoldingsChannel reports. The fund owned 1,101,854 shares of the basic materials company’s stock after buying an additional 261,951 shares during the quarter. Geode Capital Management LLC’s holdings in Franco-Nevada were worth $129,870,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Laurel Wealth Advisors LLC bought a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $47,000. Physician Wealth Advisors Inc. bought a new stake in Franco-Nevada in the 4th quarter valued at $49,000. Point72 DIFC Ltd acquired a new position in shares of Franco-Nevada in the 3rd quarter valued at $52,000. Harbour Investments Inc. lifted its holdings in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Franco-Nevada during the 4th quarter valued at about $73,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 11th. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Raymond James boosted their price target on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. Finally, HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.88.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $142.99 on Wednesday. The business has a fifty day moving average of $146.00 and a 200-day moving average of $131.99. The firm has a market cap of $27.53 billion, a PE ratio of -45.25, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $161.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The company had revenue of $321.00 million during the quarter, compared to the consensus estimate of $304.33 million. During the same period in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.06%. This is a positive change 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 (DPR) is presently 53.15%.

About Franco-Nevada

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.