Franco-Nevada Co. (NYSE:FNV) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 661,952 shares of the basic materials company’s stock after acquiring an additional 66,000 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Franco-Nevada were worth $78,466,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mechanics Financial Corp raised its holdings in Franco-Nevada by 150.0% during the second quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 150 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Franco-Nevada during the 2nd quarter worth approximately $33,000. Kings Path Partners LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $36,000. Fortis Group Advisors LLC boosted its stake in shares of Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after buying an additional 176 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV raised its position in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $128.36 on Friday. The firm’s 50-day moving average is $123.49 and its two-hundred day moving average is $121.44. The stock has a market capitalization of $24.70 billion, a P/E ratio of -51.55, a P/E/G ratio of 20.59 and a beta of 0.76. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $143.02.

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

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors 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 yield of 1.12%. Franco-Nevada’s payout ratio is -57.83%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on FNV shares. HC Wainwright restated a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a research report on Friday, August 16th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group lifted their price target on shares of Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a research report on Friday, July 12th. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, Bank of America upped their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $152.75.

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.