Phoenix Financial Ltd. Boosts Holdings in Franco-Nevada Co. (NYSE:FNV)

Phoenix Financial Ltd. raised its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 19.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,736 shares of the basic materials company’s stock after buying an additional 760 shares during the quarter. Phoenix Financial Ltd.’s holdings in Franco-Nevada were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in Franco-Nevada by 2.3% during the fourth quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after acquiring an additional 193,968 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock valued at $916,540,000 after purchasing an additional 132,465 shares during the last quarter. Bank of Montreal Can grew its position in shares of Franco-Nevada by 0.3% during the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock valued at $622,124,000 after purchasing an additional 15,273 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 3.3% in the fourth quarter. First Eagle Investment Management LLC now owns 3,366,544 shares of the basic materials company’s stock worth $395,113,000 after purchasing an additional 107,043 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Franco-Nevada by 0.7% in the fourth quarter. Renaissance Technologies LLC now owns 3,159,439 shares of the basic materials company’s stock worth $371,518,000 after buying an additional 20,890 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research note on Tuesday, March 11th. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. HC Wainwright increased their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a report on Friday, April 4th. Finally, UBS Group increased their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $157.88.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $157.71 on Friday. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $165.50. The firm has a 50-day simple moving average of $146.97 and a two-hundred day simple moving average of $132.48. The company has a market cap of $30.37 billion, a P/E ratio of -49.91, a PEG ratio of 9.78 and a beta of 0.68.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, beating 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 company had revenue of $321.00 million during the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter in the previous year, the business earned $0.90 EPS. Franco-Nevada’s revenue was up 5.8% compared to the same quarter last year. As a group, equities research analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a yield of 0.96%. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

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.