American Century Companies Inc. Raises Stock Position in Franco-Nevada Co. (NYSE:FNV)

American Century Companies Inc. grew its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 209,192 shares of the basic materials company’s stock after buying an additional 8,600 shares during the period. American Century Companies Inc. owned 0.11% of Franco-Nevada worth $24,794,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Meixler Investment Management Ltd. boosted its stake in Franco-Nevada by 0.5% in the second quarter. Meixler Investment Management Ltd. now owns 21,460 shares of the basic materials company’s stock valued at $2,543,000 after acquiring an additional 101 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Franco-Nevada by 0.5% in the 2nd quarter. Natixis Advisors LLC now owns 19,167 shares of the basic materials company’s stock valued at $2,272,000 after purchasing an additional 101 shares during the period. Hillsdale Investment Management Inc. grew its stake in Franco-Nevada by 33.3% during the 1st quarter. Hillsdale Investment Management Inc. now owns 440 shares of the basic materials company’s stock worth $52,000 after buying an additional 110 shares during the last quarter. Gulf International Bank UK Ltd grew its stake in Franco-Nevada by 6.9% during the 1st quarter. Gulf International Bank UK Ltd now owns 1,722 shares of the basic materials company’s stock worth $205,000 after buying an additional 111 shares during the last quarter. Finally, Primoris Wealth Advisors LLC increased its position in Franco-Nevada by 4.7% during the second quarter. Primoris Wealth Advisors LLC now owns 2,475 shares of the basic materials company’s stock worth $293,000 after buying an additional 112 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on FNV shares. Jefferies Financial Group raised their target price on shares of Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank raised their price objective on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. HC Wainwright restated a “buy” rating and issued a $185.00 price objective on shares of Franco-Nevada in a research note on Friday, August 16th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Bank of America boosted their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $152.75.

Franco-Nevada Trading Down 0.5 %

Shares of FNV opened at $123.97 on Thursday. The stock’s 50 day moving average is $123.57 and its two-hundred day moving average is $121.26. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $145.74. The firm has a market capitalization of $23.86 billion, a PE ratio of -50.02, a P/E/G ratio of 20.59 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). The business had revenue of $260.10 million during the quarter, compared to analysts’ expectations of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. On average, sell-side analysts predict that Franco-Nevada Co. will post 3.2 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Stockholders of record on Thursday, September 12th will be issued a $0.36 dividend. The ex-dividend date is Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

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.