Franco-Nevada Co. (NYSE:FNV) Shares Bought by USS Investment Management Ltd

USS Investment Management Ltd grew its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 446.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 53,518 shares of the basic materials company’s stock after acquiring an additional 43,718 shares during the period. USS Investment Management Ltd’s holdings in Franco-Nevada were worth $6,282,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Franco-Nevada by 3.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company’s stock valued at $49,702,000 after buying an additional 16,029 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Franco-Nevada by 5.0% in the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company’s stock valued at $113,200,000 after buying an additional 45,495 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of Franco-Nevada by 113.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company’s stock valued at $601,000 after buying an additional 2,710 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at about $12,280,000. Finally, Horizon Kinetics Asset Management LLC grew its stake in shares of Franco-Nevada by 5.6% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after buying an additional 52,199 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FNV shares. BMO Capital Markets started coverage on Franco-Nevada in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Raymond James increased their target price on Franco-Nevada from $162.00 to $181.00 and gave the company an “outperform” rating in a research note on Friday, April 4th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research note on Wednesday, April 23rd. Scotiabank raised their price objective on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Finally, UBS Group raised their price objective on Franco-Nevada from $170.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $162.75.

Franco-Nevada Price Performance

NYSE:FNV opened at $164.01 on Friday. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $178.74. The firm has a market capitalization of $31.58 billion, a P/E ratio of -51.90, a P/E/G ratio of 9.78 and a beta of 0.45. The business has a 50 day simple moving average of $161.42 and a 200 day simple moving average of $140.43.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The business had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. Research analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a yield of 0.93%. Franco-Nevada’s dividend payout ratio is currently 47.50%.

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.