Victory Capital Management Inc. Purchases 424,810 Shares of Franco-Nevada Co. (NYSE:FNV)

Victory Capital Management Inc. raised its holdings in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,489,240 shares of the basic materials company’s stock after buying an additional 424,810 shares during the period. Victory Capital Management Inc. owned about 1.81% of Franco-Nevada worth $433,538,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FNV. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Franco-Nevada by 116.2% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 8,628 shares of the basic materials company’s stock valued at $1,028,000 after acquiring an additional 4,637 shares during the period. M&G PLC raised its position in Franco-Nevada by 3.2% in the 3rd quarter. M&G PLC now owns 1,679,858 shares of the basic materials company’s stock valued at $208,645,000 after purchasing an additional 51,996 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in 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 purchasing an additional 706,919 shares in the last quarter. Avantax Advisory Services Inc. purchased a new stake in Franco-Nevada in the first quarter valued at approximately $1,132,000. Finally, Janus Henderson Group PLC raised its position in Franco-Nevada by 44.4% during the 1st quarter. Janus Henderson Group PLC now owns 63,540 shares of the basic materials company’s stock worth $7,576,000 after buying an additional 19,551 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 3.1 %

Franco-Nevada stock traded down $3.65 during trading hours on Tuesday, reaching $114.18. 353,938 shares of the stock were exchanged, compared to its average volume of 657,360. The company has a market cap of $21.98 billion, a P/E ratio of -37.29, a price-to-earnings-growth ratio of 20.59 and a beta of 0.75. Franco-Nevada Co. has a twelve month low of $102.29 and a twelve month high of $137.60. The stock has a 50 day moving average of $126.57 and a two-hundred day moving average of $124.18.

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 for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.03). The business had revenue of $275.70 million during the quarter, compared to analyst estimates of $279.11 million. Franco-Nevada had a positive return on equity of 10.63% and a negative net margin of 55.28%. The company’s revenue was down 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.91 EPS. On average, analysts expect that Franco-Nevada Co. will post 3.25 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Thursday, December 5th will be given a dividend of $0.36 per share. The ex-dividend date is Thursday, December 5th. This represents a $1.44 annualized dividend and a yield of 1.26%. Franco-Nevada’s payout ratio is -45.57%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. HC Wainwright raised their target price on shares of Franco-Nevada from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $137.00 to $136.00 and set a “hold” rating for the company in a report on Thursday, October 17th. Bank of America lowered Franco-Nevada from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $142.00 to $139.00 in a research report on Tuesday, October 1st. Finally, StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.57.

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.