JPMorgan Chase & Co. Acquires 45,495 Shares of Franco-Nevada Co. (NYSE:FNV)

JPMorgan Chase & Co. lifted its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 962,671 shares of the basic materials company’s stock after buying an additional 45,495 shares during the quarter. JPMorgan Chase & Co. owned about 0.50% of Franco-Nevada worth $113,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Korea Investment CORP grew its holdings in Franco-Nevada by 22.1% during the 4th quarter. Korea Investment CORP now owns 123,260 shares of the basic materials company’s stock valued at $14,477,000 after buying an additional 22,337 shares in the last quarter. America First Investment Advisors LLC grew its stake in Franco-Nevada by 1.7% during the fourth quarter. America First Investment Advisors LLC now owns 164,553 shares of the basic materials company’s stock valued at $19,350,000 after acquiring an additional 2,788 shares in the last quarter. Mufg Securities Canada LTD. increased its holdings in Franco-Nevada by 72.1% during the 4th quarter. Mufg Securities Canada LTD. now owns 293,943 shares of the basic materials company’s stock worth $34,519,000 after acquiring an additional 123,184 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its stake 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 worth $1,152,000 after purchasing an additional 200 shares in the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Franco-Nevada by 2.8% in the 4th quarter. TD Asset Management Inc. now owns 1,804,599 shares of the basic materials company’s stock valued at $211,954,000 after purchasing an additional 48,777 shares during the period. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Securities downgraded Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Raymond James boosted their price objective on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. UBS Group raised their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Tuesday, March 11th. HC Wainwright boosted their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $155.50.

Franco-Nevada Stock Down 0.5 %

Franco-Nevada stock opened at $156.92 on Thursday. The firm has a fifty day simple moving average of $144.31 and a two-hundred day simple moving average of $131.24. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $159.38. The company has a market capitalization of $30.22 billion, a PE ratio of -49.66, a P/E/G ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Thursday, March 13th. Franco-Nevada’s dividend payout ratio is currently 53.15%.

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.