2,024,865 Shares in Franco-Nevada Co. (NYSE:FNV) Purchased by Norges Bank

Norges Bank bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,024,865 shares of the basic materials company’s stock, valued at approximately $237,643,000.

Several other large investors have also modified their holdings of the business. Laurel Wealth Advisors LLC bought a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $47,000. Point72 DIFC Ltd bought a new stake in Franco-Nevada during the 3rd quarter valued at $52,000. Harbour Investments Inc. boosted its position 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 acquiring an additional 93 shares in the last quarter. Erste Asset Management GmbH purchased a new position in shares of Franco-Nevada in the 3rd quarter valued at $55,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of Franco-Nevada in the 4th quarter worth $73,000. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 1.2 %

Shares of Franco-Nevada stock opened at $155.36 on Monday. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $159.38. The firm’s 50 day simple moving average is $142.60 and its two-hundred day simple moving average is $130.60. The firm has a market capitalization of $29.92 billion, a price-to-earnings ratio of -49.16, a PEG ratio of 9.78 and a beta of 0.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Monday, March 10th. The basic materials company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.05. The company had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter last year, the business posted $0.90 EPS. On average, sell-side analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Thursday, March 13th. 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

Several research firms have issued reports on FNV. HC Wainwright lifted their target price on Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, March 26th. TD Securities downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Royal Bank of Canada boosted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, March 19th. Finally, UBS Group increased their price objective on Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

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.