Korea Investment CORP Has $14.48 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Korea Investment CORP lifted its stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 123,260 shares of the basic materials company’s stock after buying an additional 22,337 shares during the quarter. Korea Investment CORP’s holdings in Franco-Nevada were worth $14,477,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. America First Investment Advisors LLC grew its holdings in Franco-Nevada by 1.7% in the fourth quarter. America First Investment Advisors LLC now owns 164,553 shares of the basic materials company’s stock worth $19,350,000 after purchasing an additional 2,788 shares during the period. Mufg Securities Canada LTD. grew its stake in shares of Franco-Nevada by 72.1% in the 4th quarter. Mufg Securities Canada LTD. now owns 293,943 shares of the basic materials company’s stock valued at $34,519,000 after buying an additional 123,184 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in Franco-Nevada by 2.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,787 shares of the basic materials company’s stock valued at $1,152,000 after buying an additional 200 shares in the last quarter. TD Asset Management Inc. raised its stake in Franco-Nevada by 2.8% during the 4th quarter. TD Asset Management Inc. now owns 1,804,599 shares of the basic materials company’s stock worth $211,954,000 after buying an additional 48,777 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Franco-Nevada by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after acquiring an additional 132,465 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 1.2 %

Shares of NYSE FNV opened at $155.36 on Monday. The company has a market capitalization of $29.92 billion, a PE ratio of -49.16, a PEG ratio of 9.78 and a beta of 0.73. The stock’s 50 day moving average price is $142.60 and its 200-day moving average price is $130.60. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $159.38.

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

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.98%. Franco-Nevada’s payout ratio is currently 53.15%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FNV. StockNews.com raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Scotiabank raised their price objective on shares of Franco-Nevada from $145.00 to $150.00 and gave the company a “sector perform” rating in a research note on Tuesday, March 11th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. UBS Group upped their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Finally, Raymond James lifted their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $155.50.

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.