James Investment Research Inc. Invests $28,000 in Franco-Nevada Co. (NYSE:FNV)

Posted by on Apr 13th, 2023

James Investment Research Inc. acquired a new position in Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 207 shares of the basic materials company’s stock, valued at approximately $28,000.

A number of other large investors have also recently made changes to their positions in FNV. BlackRock Inc. grew its position in shares of Franco-Nevada by 3.3% in the 1st quarter. BlackRock Inc. now owns 386,741 shares of the basic materials company’s stock worth $61,693,000 after buying an additional 12,446 shares during the last quarter. Raymond James Trust N.A. grew its position in shares of Franco-Nevada by 10.2% in the 1st quarter. Raymond James Trust N.A. now owns 1,995 shares of the basic materials company’s stock worth $318,000 after buying an additional 184 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Franco-Nevada by 23.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 69,166 shares of the basic materials company’s stock worth $11,035,000 after buying an additional 12,993 shares during the last quarter. Aviva PLC grew its position in shares of Franco-Nevada by 5.8% in the 1st quarter. Aviva PLC now owns 62,996 shares of the basic materials company’s stock worth $10,040,000 after buying an additional 3,438 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Franco-Nevada by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 6,358,267 shares of the basic materials company’s stock valued at $1,014,271,000 after purchasing an additional 141,139 shares during the period. 66.69% of the stock is currently owned by institutional investors.

Franco-Nevada Price Performance

FNV stock opened at $155.27 on Thursday. Franco-Nevada Co. has a 1-year low of $109.70 and a 1-year high of $168.59. The business has a fifty day moving average price of $139.24 and a 200-day moving average price of $136.14. The stock has a market capitalization of $29.80 billion, a P/E ratio of 42.54, a P/E/G ratio of 11.74 and a beta of 0.71.

Franco-Nevada (NYSE:FNV – Get Rating) (TSE:FNV) last posted its quarterly earnings results on Wednesday, March 15th. The basic materials company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.01. Franco-Nevada had a return on equity of 11.12% and a net margin of 53.25%. The firm had revenue of $320.40 million during the quarter, compared to analysts’ expectations of $307.88 million. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue was down 2.2% on a year-over-year basis. As a group, analysts anticipate that Franco-Nevada Co. will post 3.28 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Stockholders of record on Thursday, March 16th were paid a $0.34 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $1.36 annualized dividend and a dividend yield of 0.88%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.32. Franco-Nevada’s payout ratio is currently 37.26%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays raised their target price on Franco-Nevada from $111.00 to $115.00 and gave the company an “underweight” rating in a research note on Monday, January 30th. StockNews.com started coverage on Franco-Nevada in a research note on Thursday, March 16th. They issued a “hold” rating for the company. HC Wainwright reiterated a “buy” rating and set a $145.00 price objective on shares of Franco-Nevada in a research note on Friday, March 17th. Raymond James lowered their price objective on Franco-Nevada from $158.00 to $157.00 and set an “outperform” rating for the company in a research note on Friday, March 17th. Finally, Stifel Nicolaus cut Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Friday, January 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $166.43.

About Franco-Nevada

(Get Rating)

Franco-Nevada Corp. engages in the management of gold-focused royalties and streams portfolio. It provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. The company was founded in 1983 and is headquartered in Toronto, Canada.

Featured Articles

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Co. (NYSE:FNV – Get Rating) (TSE:FNV).

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

Receive News & Ratings for Franco-Nevada Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Franco-Nevada and related companies with MarketBeat.com's FREE daily email newsletter.