Franco-Nevada Co. (NYSE:FNV) Shares Bought by Annex Advisory Services LLC

Annex Advisory Services LLC increased its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 14.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 183,106 shares of the basic materials company’s stock after buying an additional 23,702 shares during the quarter. Annex Advisory Services LLC’s holdings in Franco-Nevada were worth $28,850,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Van ECK Associates Corp boosted its position in shares of Franco-Nevada by 2.3% during the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after purchasing an additional 193,968 shares in the last quarter. Capital World Investors lifted its stake in Franco-Nevada by 9.8% during the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after purchasing an additional 711,591 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Franco-Nevada by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after buying an additional 132,465 shares in the last quarter. Bank of Montreal Can grew its position in Franco-Nevada by 0.3% in the fourth quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock worth $622,124,000 after buying an additional 15,273 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its holdings in shares of Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock valued at $582,100,000 after buying an additional 1,650,358 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on FNV shares. Raymond James set a $186.00 price objective on Franco-Nevada and gave the stock an “outperform” rating in a research note on Wednesday, May 28th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, April 7th. Scotiabank lifted their price target on Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. HC Wainwright reaffirmed a “buy” rating and set a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $169.63.

Franco-Nevada Stock Performance

FNV stock opened at $177.26 on Thursday. The firm has a 50 day simple moving average of $164.33 and a 200 day simple moving average of $143.55. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $181.27. The stock has a market cap of $34.13 billion, a P/E ratio of -56.09, a P/E/G ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter last year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 43.5% on a year-over-year basis. Sell-side analysts predict that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s payout ratio is 47.50%.

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.