Bennbridge Ltd Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Bennbridge Ltd acquired a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 390,140 shares of the basic materials company’s stock, valued at approximately $45,877,000. Franco-Nevada makes up 46.7% of Bennbridge Ltd’s investment portfolio, making the stock its biggest position. Bennbridge Ltd owned about 0.20% of Franco-Nevada at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FNV. Essex Financial Services Inc. increased its stake in shares of Franco-Nevada by 2.2% in the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock worth $458,000 after acquiring an additional 84 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of Franco-Nevada by 4.0% in the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after acquiring an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC increased its stake in shares of Franco-Nevada by 2.7% in the 4th quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after acquiring an additional 100 shares in the last quarter. Huntington National Bank increased its stake in shares of Franco-Nevada by 7.4% in the 3rd quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after acquiring an additional 102 shares in the last quarter. Finally, Blossom Wealth Management increased its stake in shares of Franco-Nevada by 3.9% in the 4th quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $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 Price Performance

Shares of NYSE:FNV opened at $147.39 on Thursday. Franco-Nevada Co. has a 1-year low of $112.70 and a 1-year high of $148.71. The company has a market capitalization of $28.38 billion, a P/E ratio of -46.64, a P/E/G ratio of 9.78 and a beta of 0.73. The firm’s 50 day simple moving average is $134.87 and its two-hundred day simple moving average is $127.60.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $304.33 million. During the same quarter last year, the business posted $0.90 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Franco-Nevada Co. will post 3.09 earnings per share 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. Stockholders of record on Thursday, March 13th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date is Thursday, March 13th. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is 53.15%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FNV. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Friday, March 7th. HC Wainwright raised their price objective on shares of Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday. Royal Bank of Canada raised their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. UBS Group raised 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. Finally, Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $153.63.

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.