Meixler Investment Management Ltd. Has $1.14 Million Stock Holdings in Franco-Nevada Co. (NYSE:FNV)

Meixler Investment Management Ltd. raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,324 shares of the basic materials company’s stock after purchasing an additional 499 shares during the quarter. Franco-Nevada makes up 1.0% of Meixler Investment Management Ltd.’s holdings, making the stock its 26th biggest position. Meixler Investment Management Ltd.’s holdings in Franco-Nevada were worth $1,144,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in Franco-Nevada by 15.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock valued at $163,156,000 after purchasing an additional 198,144 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Franco-Nevada by 1.6% during the 3rd 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. Beddow Capital Management Inc. increased its position in Franco-Nevada by 3.8% during the 4th quarter. Beddow Capital Management Inc. now owns 56,639 shares of the basic materials company’s stock worth $6,276,000 after buying an additional 2,059 shares during the period. Invesco Ltd. increased its position in Franco-Nevada by 11.9% during the 3rd quarter. Invesco Ltd. now owns 491,631 shares of the basic materials company’s stock worth $65,628,000 after buying an additional 52,401 shares during the period. Finally, TD Asset Management Inc increased its position in Franco-Nevada by 0.4% during the 3rd quarter. TD Asset Management Inc now owns 2,232,515 shares of the basic materials company’s stock worth $299,425,000 after buying an additional 9,482 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of FNV stock traded up $1.37 during mid-day trading on Friday, reaching $122.93. 527,685 shares of the stock traded hands, compared to its average volume of 665,152. The stock’s fifty day simple moving average is $115.31 and its two-hundred day simple moving average is $115.78. Franco-Nevada Co. has a 1-year low of $102.29 and a 1-year high of $161.25.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, March 5th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.10. The firm 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%. Equities research analysts forecast that Franco-Nevada Co. will post 2.97 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.36 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Wednesday, March 13th. Franco-Nevada’s payout ratio is currently -55.97%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FNV. Jefferies Financial Group increased their price objective on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a research report on Monday, April 22nd. Bank of America lowered their price objective on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Raymond James raised their price target on Franco-Nevada from $138.00 to $141.00 and gave the stock an “outperform” rating in a research report on Thursday, April 11th. Scotiabank raised their price target on Franco-Nevada from $139.00 to $140.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, TheStreet cut Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Hold” and a consensus price target of $148.60.

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.