Franklin Resources Inc. Has $9.96 Million Holdings in Franco-Nevada Co. (NYSE:FNV)

Franklin Resources Inc. grew its holdings in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 8.3% in the 3rd quarter, Holdings Channel reports. The fund owned 79,232 shares of the basic materials company’s stock after purchasing an additional 6,052 shares during the quarter. Franklin Resources Inc.’s holdings in Franco-Nevada were worth $9,957,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in Franco-Nevada in the 2nd quarter valued at $276,446,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Franco-Nevada by 3,404.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 727,681 shares of the basic materials company’s stock valued at $86,287,000 after buying an additional 706,919 shares during the period. EdgePoint Investment Group Inc. grew its position in Franco-Nevada by 19.4% during the third quarter. EdgePoint Investment Group Inc. now owns 3,309,493 shares of the basic materials company’s stock worth $411,003,000 after buying an additional 537,047 shares in the last quarter. Victory Capital Management Inc. increased its stake in Franco-Nevada by 13.9% during the third quarter. Victory Capital Management Inc. now owns 3,489,240 shares of the basic materials company’s stock valued at $433,538,000 after acquiring an additional 424,810 shares during the period. Finally, Two Sigma Advisers LP raised its holdings in Franco-Nevada by 60.1% in the 3rd quarter. Two Sigma Advisers LP now owns 958,300 shares of the basic materials company’s stock valued at $119,069,000 after acquiring an additional 359,900 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.9 %

Shares of FNV stock opened at $116.21 on Friday. The company has a market capitalization of $22.37 billion, a P/E ratio of -36.78 and a beta of 0.72. Franco-Nevada Co. has a 12-month low of $103.64 and a 12-month high of $137.60. The firm has a 50-day moving average price of $124.60 and a 200 day moving average price of $123.27.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Wednesday, November 6th. The basic materials company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The firm had revenue of $275.70 million during the quarter, compared to the consensus estimate of $279.11 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business’s revenue was down 10.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.91 EPS. As a group, research analysts expect that Franco-Nevada Co. will post 3.22 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.24%. The ex-dividend date was Thursday, December 5th. Franco-Nevada’s payout ratio is presently -45.57%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FNV shares. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $142.00 to $139.00 in a report on Tuesday, October 1st. HC Wainwright lowered their price target on shares of Franco-Nevada from $200.00 to $155.00 and set a “buy” rating on the stock in a report on Friday. Jefferies Financial Group dropped their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 18th. Finally, Scotiabank dropped their price target on shares of Franco-Nevada from $142.00 to $141.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $145.33.

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.