Arrowstreet Capital Limited Partnership Increases Stake in Franco-Nevada Co. (NYSE:FNV)

Arrowstreet Capital Limited Partnership raised its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 246.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,164,394 shares of the basic materials company’s stock after acquiring an additional 828,166 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Franco-Nevada were worth $136,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at about $47,000. Point72 DIFC Ltd acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at approximately $52,000. Harbour Investments Inc. lifted its holdings 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 during the period. Erste Asset Management GmbH purchased a new stake in shares of Franco-Nevada in the third quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. acquired a new position in Franco-Nevada during the fourth quarter worth $73,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $155.36 on Monday. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $159.38. The business has a 50 day moving average price of $142.60 and a 200 day moving average price of $130.60. The company has a market capitalization of $29.92 billion, a P/E ratio of -49.16, a P/E/G ratio of 9.78 and a beta of 0.73.

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

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Thursday, March 13th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. Franco-Nevada’s payout ratio is currently 53.15%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FNV. Raymond James raised their target price on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a report on Tuesday, March 11th. Royal Bank of Canada boosted their price objective on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, March 19th. UBS Group lifted their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, March 11th. Finally, TD Securities cut Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price target on the stock. in a report on Tuesday, March 11th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.50.

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.