Invesco Ltd. Acquires 99,842 Shares of Franco-Nevada Co. (NYSE:FNV)

Invesco Ltd. raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 28.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 450,442 shares of the basic materials company’s stock after acquiring an additional 99,842 shares during the period. Invesco Ltd.’s holdings in Franco-Nevada were worth $52,967,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Laurel Wealth Advisors LLC bought a new stake in Franco-Nevada in the fourth quarter valued at approximately $47,000. Physician Wealth Advisors Inc. acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $49,000. Harbour Investments Inc. increased its position in shares of Franco-Nevada by 25.8% in the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after buying an additional 93 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Franco-Nevada during the 4th quarter worth $73,000. Finally, Jones Financial Companies Lllp lifted its holdings in Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research analyst reports. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 2nd. StockNews.com raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, April 7th. HC Wainwright upped their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, March 26th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective on the stock. in a report on Tuesday, March 11th. Finally, Scotiabank upped their target price on shares of Franco-Nevada from $150.00 to $165.00 and gave the stock a “sector perform” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.25.

Franco-Nevada Price Performance

Shares of NYSE FNV opened at $169.35 on Wednesday. The business has a 50-day moving average of $148.63 and a 200-day moving average of $133.32. The stock has a market capitalization of $32.61 billion, a price-to-earnings ratio of -53.59, a PEG ratio of 9.78 and a beta of 0.68. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $171.20.

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

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a $0.38 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, March 13th. Franco-Nevada’s payout ratio is currently 53.15%.

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.