Franco-Nevada Co. (NYSE:FNV) Shares Acquired by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,787 shares of the basic materials company’s stock after acquiring an additional 200 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Franco-Nevada were worth $1,152,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Laurel Wealth Advisors LLC acquired a new stake in Franco-Nevada during the 4th quarter worth about $47,000. Point72 DIFC Ltd acquired a new stake in Franco-Nevada during the third quarter worth about $52,000. Harbour Investments Inc. grew its holdings in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 93 shares during the period. Erste Asset Management GmbH acquired a new position in Franco-Nevada in the third quarter valued at approximately $55,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Franco-Nevada in the 4th quarter worth approximately $73,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on FNV. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Raymond James lifted their price target on Franco-Nevada from $160.00 to $162.00 and gave the company an “outperform” rating in a research note on Tuesday, March 11th. Royal Bank of Canada boosted their price objective on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 11th. HC Wainwright increased their price objective 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. Finally, UBS Group boosted their price objective on Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, March 11th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $155.50.

Franco-Nevada Stock Performance

Shares of FNV opened at $157.48 on Wednesday. The stock has a market capitalization of $30.32 billion, a PE ratio of -49.84, a P/E/G ratio of 9.78 and a beta of 0.73. The company’s 50-day simple moving average is $143.77 and its 200-day simple moving average is $131.06. Franco-Nevada Co. has a 1 year low of $112.70 and a 1 year high of $159.38.

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

Franco-Nevada Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.38 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, March 13th. This represents a $1.52 annualized dividend and a yield of 0.97%. Franco-Nevada’s dividend payout ratio is 53.15%.

Franco-Nevada 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.