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

Parallel Advisors LLC lifted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 23.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 2,692 shares of the basic materials company’s stock after buying an additional 505 shares during the period. Parallel Advisors LLC’s holdings in Franco-Nevada were worth $317,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FNV. Laurel Wealth Advisors LLC purchased a new stake in Franco-Nevada during the 4th quarter valued at approximately $47,000. Point72 DIFC Ltd purchased a new stake in Franco-Nevada during the 3rd quarter valued at approximately $52,000. Erste Asset Management GmbH purchased a new stake in Franco-Nevada during the 3rd quarter valued at approximately $55,000. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Franco-Nevada during the 4th quarter valued at approximately $73,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FNV has been the subject of a number of research reports. HC Wainwright increased their target price on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. UBS Group increased their target price on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Raymond James increased their target price on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research report on Tuesday, March 11th. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research report on Tuesday, March 11th. Finally, StockNews.com upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $153.63.

Franco-Nevada Stock Up 0.2 %

Shares of FNV opened at $155.85 on Friday. Franco-Nevada Co. has a 52-week low of $112.70 and a 52-week high of $156.82. The company has a market cap of $30.01 billion, a PE ratio of -49.32, a P/E/G ratio of 9.78 and a beta of 0.73. The business has a fifty day moving average of $139.63 and a 200 day moving average of $129.29.

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

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is 53.15%.

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.