NewEdge Advisors LLC Boosts Position in Franco-Nevada Co. (NYSE:FNV)

NewEdge Advisors LLC raised its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,642 shares of the basic materials company’s stock after buying an additional 313 shares during the period. NewEdge Advisors LLC’s holdings in Franco-Nevada were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Essex Financial Services Inc. grew its stake in Franco-Nevada by 2.2% in the fourth quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 84 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after buying an additional 93 shares during the period. Mutual Advisors LLC grew its position in shares of Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after buying an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC increased its stake in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock valued at $441,000 after buying an additional 100 shares during the period. Finally, Blossom Wealth Management raised its holdings in shares of Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock valued at $335,000 after acquiring an additional 108 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Down 0.8 %

Franco-Nevada stock opened at $170.05 on Friday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74. The firm has a market cap of $32.74 billion, a price-to-earnings ratio of -53.81, a price-to-earnings-growth ratio of 9.78 and a beta of 0.68. The business’s 50-day moving average price is $153.47 and its 200 day moving average price is $136.06.

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 for the quarter, beating the consensus estimate of $0.90 by $0.05. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. During the same period in the previous year, the firm earned $0.90 EPS. The business’s quarterly revenue was up 5.8% on a year-over-year basis. Equities analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.38 dividend. The ex-dividend date was Thursday, March 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s dividend payout ratio is 53.15%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. HC Wainwright raised their target price 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. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Wednesday, April 2nd. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a report on Tuesday, March 11th. Scotiabank lifted their price target on Franco-Nevada from $150.00 to $165.00 and gave the company a “sector perform” rating in a report on Monday, April 14th. Finally, StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.25.

Franco-Nevada 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.