Foresight Global Investors Inc. Invests $647,000 in Franco-Nevada Co. (NYSE:FNV)

Foresight Global Investors Inc. bought a new stake in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,500 shares of the basic materials company’s stock, valued at approximately $647,000. Franco-Nevada accounts for 0.5% of Foresight Global Investors Inc.’s portfolio, making the stock its 12th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Tocqueville Asset Management L.P. boosted its stake in shares of Franco-Nevada by 1.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 159,439 shares of the basic materials company’s stock valued at $18,748,000 after purchasing an additional 1,916 shares during the period. Horizon Kinetics Asset Management LLC raised its holdings in Franco-Nevada by 5.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 988,033 shares of the basic materials company’s stock valued at $116,183,000 after buying an additional 52,199 shares during the last quarter. Parallel Advisors LLC boosted its position in Franco-Nevada by 23.1% during the 4th quarter. Parallel Advisors LLC now owns 2,692 shares of the basic materials company’s stock valued at $317,000 after buying an additional 505 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in Franco-Nevada by 154.9% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 1,277 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 776 shares during the last quarter. Finally, Harbour Investments Inc. increased its position in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock valued at $53,000 after acquiring an additional 93 shares during the period. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 0.2 %

Shares of FNV stock opened at $154.31 on Wednesday. The business’s fifty day moving average is $137.96 and its 200 day moving average is $128.62. The stock has a market cap of $29.71 billion, a price-to-earnings ratio of -48.83, a PEG ratio of 9.78 and a beta of 0.73. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $156.82.

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

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.99%. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FNV shares. UBS Group increased their target price on shares of Franco-Nevada from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, March 11th. Raymond James increased their price objective on Franco-Nevada from $160.00 to $162.00 and gave the stock an “outperform” rating in a report on Tuesday, March 11th. Royal Bank of Canada boosted their target price on Franco-Nevada from $145.00 to $155.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 11th. HC Wainwright upped their target price on Franco-Nevada from $155.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, March 11th. Finally, StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $153.63.

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.