Sapient Capital LLC Takes Position in Franco-Nevada Co. (NYSE:FNV)

Sapient Capital LLC acquired a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,104 shares of the basic materials company’s stock, valued at approximately $1,674,000.

Several other large investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Franco-Nevada by 1.3% in the 3rd quarter. FMR LLC now owns 16,565,648 shares of the basic materials company’s stock valued at $2,211,558,000 after buying an additional 208,392 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Franco-Nevada by 0.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 10,441,556 shares of the basic materials company’s stock valued at $1,393,843,000 after acquiring an additional 31,642 shares in the last quarter. Vanguard Group Inc. grew its holdings in Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 7,104,384 shares of the basic materials company’s stock valued at $948,364,000 after purchasing an additional 112,274 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Franco-Nevada by 8.3% during the 3rd quarter. Victory Capital Management Inc. now owns 2,681,215 shares of the basic materials company’s stock worth $357,915,000 after buying an additional 206,125 shares during the period. Finally, Bank of America Corp DE lifted its position in Franco-Nevada by 69.9% during the 1st quarter. Bank of America Corp DE now owns 2,679,436 shares of the basic materials company’s stock worth $390,662,000 after acquiring an additional 1,102,710 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.9 %

NYSE FNV traded up $1.06 on Friday, reaching $122.38. The company had a trading volume of 363,261 shares, compared to its average volume of 730,714. Franco-Nevada Co. has a 52 week low of $102.29 and a 52 week high of $161.25. The stock’s 50 day moving average is $112.71 and its 200-day moving average is $116.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, March 5th. The basic materials company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.10. The business had revenue of $303.30 million for the quarter. Franco-Nevada had a positive return on equity of 10.61% and a negative net margin of 38.26%. Research analysts forecast that Franco-Nevada Co. will post 2.75 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.36 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.44 annualized dividend and a yield of 1.18%. Franco-Nevada’s payout ratio is presently -55.97%.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research reports. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Bank of America reduced their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Raymond James boosted their price target on shares of Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday. Jefferies Financial Group assumed coverage on shares of Franco-Nevada in a report on Thursday, February 29th. They set a “hold” rating and a $117.00 price objective for the company. Finally, Scotiabank lowered their target price on shares of Franco-Nevada from $141.00 to $139.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Franco-Nevada presently has an average rating of “Hold” and an average price target of $147.30.

Franco-Nevada Company 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.