Metis Global Partners LLC Acquires 1,274 Shares of Franco-Nevada Co. (NYSE:FNV)

Metis Global Partners LLC lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,958 shares of the basic materials company’s stock after purchasing an additional 1,274 shares during the quarter. Metis Global Partners LLC’s holdings in Franco-Nevada were worth $1,325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FNV. FMR LLC grew its position in Franco-Nevada by 1.3% during the third quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock worth $2,211,558,000 after buying an additional 208,392 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Franco-Nevada by 0.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock worth $1,393,843,000 after purchasing an additional 31,642 shares during the period. Van ECK Associates Corp grew its stake in Franco-Nevada by 9.9% during the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock worth $972,707,000 after buying an additional 789,070 shares in the last quarter. Vanguard Group Inc. grew its stake in Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock worth $948,364,000 after buying an additional 112,274 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Franco-Nevada by 0.5% in the 4th quarter. Victory Capital Management Inc. now owns 2,694,440 shares of the basic materials company’s stock valued at $298,571,000 after buying an additional 13,225 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 0.3 %

NYSE FNV opened at $126.36 on Thursday. The company has a market capitalization of $24.30 billion, a price-to-earnings ratio of -50.75, a PEG ratio of 6.29 and a beta of 0.72. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $160.86. The stock has a fifty day simple moving average of $117.97 and a 200 day simple moving average of $114.82.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.08. The company had revenue of $256.80 million during the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. Franco-Nevada’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. Research analysts expect that Franco-Nevada Co. will post 2.97 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.14%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of recent analyst reports. Bank of America cut their price target on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Jefferies Financial Group upped their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research note on Monday, April 22nd. Raymond James boosted their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. HC Wainwright raised their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research note on Monday. Finally, TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $148.60.

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.