Franco-Nevada Co. (NYSE:FNV) Shares Bought by Clearbridge Investments LLC

Clearbridge Investments LLC lifted its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 4,361.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 275,571 shares of the basic materials company’s stock after purchasing an additional 269,394 shares during the quarter. Clearbridge Investments LLC’s holdings in Franco-Nevada were worth $32,659,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its holdings in Franco-Nevada by 60.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,861 shares of the basic materials company’s stock worth $317,000 after purchasing an additional 1,075 shares during the period. Royal London Asset Management Ltd. lifted its position in shares of Franco-Nevada by 0.6% during the 4th quarter. Royal London Asset Management Ltd. now owns 43,266 shares of the basic materials company’s stock valued at $4,794,000 after buying an additional 243 shares in the last quarter. Capital World Investors grew its stake in Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after acquiring an additional 1,405,731 shares during the period. Sprott Inc. increased its holdings in Franco-Nevada by 3.9% in the 4th quarter. Sprott Inc. now owns 194,699 shares of the basic materials company’s stock worth $21,575,000 after acquiring an additional 7,367 shares in the last quarter. Finally, Nebula Research & Development LLC acquired a new position in Franco-Nevada during the fourth quarter worth $1,342,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Scotiabank boosted their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. 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. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $152.38.

Franco-Nevada Price Performance

NYSE:FNV opened at $121.72 on Friday. The company’s 50-day moving average is $123.52 and its two-hundred day moving average is $122.23. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $142.60. The firm has a market capitalization of $23.42 billion, a price-to-earnings ratio of -48.88, a PEG ratio of 21.28 and a beta of 0.76.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 13th. The basic materials company reported $0.75 EPS 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 analyst estimates of $277.44 million. Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The company’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. As a group, equities analysts anticipate that Franco-Nevada Co. will post 3.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Thursday, September 12th. Franco-Nevada’s payout ratio is -57.83%.

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.