Bennbridge Ltd Purchases New Shares in Franco-Nevada Co. (NYSE:FNV)

by · The Markets Daily

Bennbridge Ltd bought a new stake in Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 390,140 shares of the basic materials company’s stock, valued at approximately $45,877,000. Franco-Nevada accounts for about 46.7% of Bennbridge Ltd’s portfolio, making the stock its biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Plato Investment Management Ltd bought a new position in shares of Franco-Nevada in the third quarter worth about $1,850,000. Huntington National Bank grew its holdings in shares of Franco-Nevada by 7.4% in the third quarter. Huntington National Bank now owns 1,486 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 102 shares during the last quarter. Aubrey Capital Management Ltd grew its holdings in shares of Franco-Nevada by 26.6% in the third quarter. Aubrey Capital Management Ltd now owns 9,253 shares of the basic materials company’s stock worth $1,149,000 after purchasing an additional 1,942 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Franco-Nevada by 22.7% in the third quarter. Metis Global Partners LLC now owns 15,153 shares of the basic materials company’s stock worth $1,882,000 after purchasing an additional 2,807 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in shares of Franco-Nevada by 6.5% in the third quarter. Natixis Advisors LLC now owns 20,404 shares of the basic materials company’s stock worth $2,535,000 after purchasing an additional 1,237 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 11th. StockNews.com upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Friday, March 7th. TD Securities cut shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a report on Tuesday. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday, November 18th. Finally, UBS Group increased their price target on shares of Franco-Nevada from $165.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $153.63.

Read Our Latest Stock Analysis on FNV

Franco-Nevada Stock Performance

FNV stock opened at $147.39 on Thursday. The firm has a market cap of $28.38 billion, a price-to-earnings ratio of -46.64, a PEG ratio of 9.78 and a beta of 0.73. The firm has a 50-day simple moving average of $134.87 and a two-hundred day simple moving average of $127.60. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $148.71.

Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its quarterly earnings data on Monday, March 10th. The basic materials company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $321.00 million during the quarter, compared to analyst estimates of $304.33 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. Franco-Nevada’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.90 EPS. As a group, equities analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be given a $0.38 dividend. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, March 13th. Franco-Nevada’s dividend payout ratio (DPR) is presently 53.15%.

Franco-Nevada Company Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Co. (NYSE:FNV – Free Report) (TSE:FNV).