Euro Pacific Asset Management LLC Purchases 22,243 Shares of Franco-Nevada Co. (NYSE:FNV)

Euro Pacific Asset Management LLC increased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,779 shares of the basic materials company’s stock after acquiring an additional 22,243 shares during the period. Franco-Nevada comprises 3.0% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Euro Pacific Asset Management LLC owned approximately 0.07% of Franco-Nevada worth $14,380,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its stake in Franco-Nevada by 1.3% during the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after acquiring an additional 208,392 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Franco-Nevada by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock worth $1,393,843,000 after acquiring an additional 31,642 shares in the last quarter. Vanguard Group Inc. lifted its stake in Franco-Nevada by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after acquiring an additional 112,274 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Franco-Nevada by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock worth $357,915,000 after acquiring an additional 206,125 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in Franco-Nevada by 69.9% during the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after acquiring an additional 1,102,710 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FNV. Jefferies Financial Group initiated coverage on Franco-Nevada in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 target price on the stock. Raymond James upped their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. Bank of America cut their price target on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Scotiabank upped their price target on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a report on Thursday. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $147.40.

Franco-Nevada Price Performance

Shares of FNV traded up $0.78 during mid-day trading on Thursday, reaching $121.25. The company’s stock had a trading volume of 344,992 shares, compared to its average volume of 740,441. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $161.25. The stock has a market cap of $23.32 billion, a PE ratio of -50.04, a price-to-earnings-growth ratio of 6.42 and a beta of 0.71. The company’s 50 day moving average is $113.60 and its 200 day moving average is $116.20.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. The business had revenue of $303.30 million for the quarter. As a group, sell-side analysts anticipate that Franco-Nevada Co. will post 2.76 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.19%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is presently -55.97%.

Franco-Nevada Company 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.