Larson Financial Group LLC Raises Position in Franco-Nevada Co. (NYSE:FNV)

Larson Financial Group LLC boosted its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 35.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 642 shares of the basic materials company’s stock after purchasing an additional 167 shares during the period. Larson Financial Group LLC’s holdings in Franco-Nevada were worth $71,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Quadrature Capital Ltd raised its stake in Franco-Nevada by 119.3% in the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock valued at $78,184,000 after acquiring an additional 316,600 shares during the period. Montrusco Bolton Investments Inc. boosted its holdings in Franco-Nevada by 270.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock worth $54,414,000 after buying an additional 296,169 shares during the period. FMR LLC boosted its holdings in Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after buying an additional 208,392 shares during the period. Victory Capital Management Inc. grew its stake in Franco-Nevada by 8.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock valued at $357,915,000 after buying an additional 206,125 shares in the last quarter. Finally, Gabelli Funds LLC raised its holdings in Franco-Nevada by 75.5% during the 3rd quarter. Gabelli Funds LLC now owns 472,460 shares of the basic materials company’s stock valued at $63,189,000 after acquiring an additional 203,300 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Raymond James raised 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. TheStreet lowered Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America lowered their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Jefferies Financial Group boosted their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday. Finally, Scotiabank increased their target price on shares of Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 18th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada has an average rating of “Hold” and a consensus target price of $148.60.

Franco-Nevada Trading Up 2.2 %

Shares of NYSE:FNV opened at $121.61 on Friday. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $161.25. The firm has a fifty day moving average of $114.80 and a 200 day moving average of $115.83.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.10. The firm had revenue of $303.30 million during the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. As a group, equities analysts anticipate that Franco-Nevada Co. will post 2.9 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.18%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio is currently -55.97%.

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.