International Assets Investment Management LLC Purchases New Holdings in Franco-Nevada Co. (NYSE:FNV)

International Assets Investment Management LLC purchased a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 31,107 shares of the basic materials company’s stock, valued at approximately $3,447,000.

A number of other hedge funds have also added to or reduced their stakes in FNV. Norges Bank bought a new position in Franco-Nevada in the 4th quarter worth about $219,378,000. Bank of America Corp DE grew its stake in Franco-Nevada by 69.9% in the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after acquiring an additional 1,102,710 shares in the last quarter. Quadrature Capital Ltd grew its stake in Franco-Nevada by 119.3% in the 3rd quarter. Quadrature Capital Ltd now owns 581,900 shares of the basic materials company’s stock worth $78,184,000 after acquiring an additional 316,600 shares in the last quarter. Montrusco Bolton Investments Inc. grew its stake in Franco-Nevada by 270.4% in the 3rd quarter. Montrusco Bolton Investments Inc. now owns 405,712 shares of the basic materials company’s stock worth $54,414,000 after acquiring an additional 296,169 shares in the last quarter. Finally, Triasima Portfolio Management inc. bought a new position in Franco-Nevada in the 4th quarter worth about $33,842,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Scotiabank dropped their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. TheStreet downgraded shares of Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Jefferies Financial Group started coverage on shares of Franco-Nevada in a research note on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective on the stock. Raymond James increased their price objective on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research note on Thursday, April 11th. Finally, Bank of America dropped their price objective on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $147.30.

Franco-Nevada Stock Up 2.9 %

NYSE:FNV opened at $120.49 on Thursday. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $161.25. The firm has a 50 day moving average of $113.60 and a 200 day moving average of $116.20. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of -49.58, a PEG ratio of 6.38 and a beta of 0.71.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The company had revenue of $303.30 million during the quarter. Franco-Nevada had a negative net margin of 38.26% and a positive return on equity of 10.61%. As a group, analysts expect that Franco-Nevada Co. will post 2.76 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. Franco-Nevada’s dividend payout ratio (DPR) is currently -55.97%.

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.