Parallel Advisors LLC Buys 505 Shares of Franco-Nevada Co. (NYSE:FNV)

Parallel Advisors LLC boosted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,692 shares of the basic materials company’s stock after acquiring an additional 505 shares during the period. Parallel Advisors LLC’s holdings in Franco-Nevada were worth $317,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FNV. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Franco-Nevada by 76.5% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,284,575 shares of the basic materials company’s stock valued at $159,530,000 after acquiring an additional 556,894 shares in the last quarter. EdgePoint Investment Group Inc. boosted its holdings in Franco-Nevada by 19.4% in the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock valued at $411,003,000 after acquiring an additional 537,047 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Franco-Nevada by 11,659.0% in the fourth quarter. Proficio Capital Partners LLC now owns 482,707 shares of the basic materials company’s stock valued at $56,762,000 after acquiring an additional 478,602 shares in the last quarter. Bennbridge Ltd bought a new stake in Franco-Nevada in the fourth quarter valued at $45,877,000. Finally, Two Sigma Advisers LP boosted its holdings in Franco-Nevada by 60.1% in the third quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after acquiring an additional 359,900 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $155.85 on Friday. The stock has a market cap of $30.01 billion, a price-to-earnings ratio of -49.32, a PEG ratio of 9.78 and a beta of 0.73. The firm’s 50-day moving average is $139.63 and its 200 day moving average is $129.29. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $156.82.

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

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.98%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is currently 53.15%.

Analyst Ratings Changes

Several research firms recently weighed in on FNV. Scotiabank lifted their price target on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a report on Tuesday, March 11th. UBS Group boosted their target price 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. Royal Bank of Canada boosted their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a report on Tuesday, February 11th. HC Wainwright boosted their target price on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, Raymond James boosted their target price on shares of Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average price target of $153.63.

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.