Royal London Asset Management Ltd. Buys 243 Shares of Franco-Nevada Co. (NYSE:FNV)

Royal London Asset Management Ltd. raised its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 0.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 43,266 shares of the basic materials company’s stock after purchasing an additional 243 shares during the period. Royal London Asset Management Ltd.’s holdings in Franco-Nevada were worth $4,794,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FNV. Wahed Invest LLC boosted its stake in Franco-Nevada by 7.7% during the third quarter. Wahed Invest LLC now owns 1,377 shares of the basic materials company’s stock valued at $185,000 after buying an additional 99 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC boosted its position in shares of Franco-Nevada by 6.2% during the 3rd quarter. J.P. Morgan Private Wealth Advisors LLC now owns 1,770 shares of the basic materials company’s stock valued at $236,000 after acquiring an additional 104 shares during the last quarter. Capital Asset Advisory Services LLC grew its holdings in shares of Franco-Nevada by 0.4% in the fourth quarter. Capital Asset Advisory Services LLC now owns 29,408 shares of the basic materials company’s stock valued at $3,259,000 after purchasing an additional 109 shares in the last quarter. Axxcess Wealth Management LLC increased its position in Franco-Nevada by 0.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 29,408 shares of the basic materials company’s stock worth $3,259,000 after purchasing an additional 109 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in Franco-Nevada by 5.3% during the fourth quarter. D.A. Davidson & CO. now owns 2,315 shares of the basic materials company’s stock valued at $257,000 after purchasing an additional 116 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.5 %

FNV stock traded down $0.56 during trading on Friday, hitting $116.18. The company had a trading volume of 925,841 shares, compared to its average volume of 557,162. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $149.06. The company has a 50 day simple moving average of $122.31 and a 200-day simple moving average of $114.78. The firm has a market capitalization of $22.34 billion, a P/E ratio of -46.66, a PEG ratio of 26.19 and a beta of 0.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company had revenue of $256.80 million for the quarter, compared to the consensus estimate of $250.50 million. During the same period last year, the business posted $0.79 EPS. Franco-Nevada’s quarterly revenue was down 7.1% on a year-over-year basis. Sell-side analysts forecast that Franco-Nevada Co. will post 3.19 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, June 13th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FNV shares. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a report on Tuesday, March 5th. Bank of America decreased their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Jefferies Financial Group lifted their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. HC Wainwright increased their price target on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Scotiabank lifted their price objective on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $148.70.

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.