Norges Bank Takes Position in Franco-Nevada Co. (NYSE:FNV)

Norges Bank acquired a new position in shares of Franco-Nevada Co. (NYSE:FNVFree Report) (TSE:FNV) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,998,284 shares of the basic materials company’s stock, valued at approximately $221,351,000.

Several other large investors have also recently bought and sold shares of FNV. VisionPoint Advisory Group LLC acquired a new position in shares of Franco-Nevada during the 3rd quarter worth $30,000. Creative Financial Designs Inc. ADV acquired a new position in Franco-Nevada during the fourth quarter worth about $34,000. Allworth Financial LP increased its holdings in Franco-Nevada by 5,750.0% in the fourth quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after buying an additional 345 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Franco-Nevada by 277.6% during the 4th quarter. Blue Trust Inc. now owns 589 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 433 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of Franco-Nevada by 35.2% during the 4th quarter. Larson Financial Group LLC now owns 642 shares of the basic materials company’s stock worth $71,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FNV. HC Wainwright lifted their price objective on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 6th. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research note on Tuesday, March 5th. Jefferies Financial Group increased their price objective on shares of Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a research note on Monday, April 22nd. Bank of America dropped their target price on shares of Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a report on Monday, March 18th. Finally, Scotiabank upped their price target on shares of Franco-Nevada from $139.00 to $140.00 and gave the company a “sector perform” rating in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $148.60.

View Our Latest Stock Analysis on FNV

Franco-Nevada Stock Down 3.1 %

Franco-Nevada stock opened at $124.44 on Thursday. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $151.63. The firm’s 50-day moving average is $121.08 and its two-hundred day moving average is $114.61.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last announced its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. The firm had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. Franco-Nevada’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 earnings per share. On average, research analysts anticipate that Franco-Nevada Co. will post 3.17 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s dividend payout ratio (DPR) is -57.43%.

Franco-Nevada Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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