Vanguard Personalized Indexing Management LLC Raises Holdings in Franco-Nevada Co. (NYSE:FNV)

Vanguard Personalized Indexing Management LLC lifted its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 11.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,326 shares of the basic materials company’s stock after buying an additional 348 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Franco-Nevada were worth $394,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group increased their price target on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a research report on Friday, July 12th. Scotiabank increased their target price on Franco-Nevada from $141.00 to $142.00 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, HC Wainwright reissued a “buy” rating and set a $185.00 target price on shares of Franco-Nevada in a report on Friday, August 16th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $152.75.

Franco-Nevada Stock Performance

NYSE:FNV opened at $125.52 on Friday. Franco-Nevada Co. has a one year low of $102.29 and a one year high of $142.60. The stock has a market cap of $24.15 billion, a PE ratio of -50.41, a P/E/G ratio of 21.28 and a beta of 0.76. The stock has a 50 day moving average price of $123.54 and a 200 day moving average price of $121.97.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly 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 negative net margin of 51.64% and a positive return on equity of 10.56%. The company had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. During the same period in the prior year, the business posted $0.95 EPS. Franco-Nevada’s revenue for the quarter was down 21.2% compared to the same quarter last year. As a group, analysts predict that Franco-Nevada Co. will post 3.23 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were issued a $0.36 dividend. The ex-dividend date was Thursday, September 12th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. Franco-Nevada’s dividend payout ratio is presently -57.83%.

Franco-Nevada Company 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.