Geneos Wealth Management Inc. Buys 175 Shares of Franco-Nevada Co. (NYSE:FNV)

Geneos Wealth Management Inc. raised its position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,004 shares of the basic materials company’s stock after purchasing an additional 175 shares during the period. Geneos Wealth Management Inc.’s holdings in Franco-Nevada were worth $358,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Franco-Nevada during the 4th quarter valued at about $221,351,000. Capital World Investors lifted its position in Franco-Nevada by 45.8% in the 4th quarter. Capital World Investors now owns 4,477,105 shares of the basic materials company’s stock valued at $495,909,000 after acquiring an additional 1,405,731 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Franco-Nevada by 39.5% during the 4th quarter. First Eagle Investment Management LLC now owns 3,150,097 shares of the basic materials company’s stock worth $348,940,000 after purchasing an additional 891,164 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Franco-Nevada by 9.9% in the fourth quarter. Van ECK Associates Corp now owns 8,778,127 shares of the basic materials company’s stock valued at $972,707,000 after purchasing an additional 789,070 shares in the last quarter. Finally, FIL Ltd lifted its stake in Franco-Nevada by 7.8% in the 4th quarter. FIL Ltd now owns 9,079,951 shares of the basic materials company’s stock valued at $1,005,852,000 after acquiring an additional 659,324 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FNV. Scotiabank increased their target price on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. HC Wainwright raised their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Jefferies Financial Group upped their target price on Franco-Nevada from $117.00 to $129.00 and gave the stock a “hold” rating in a report on Monday, April 22nd. Bank of America raised their price target on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Finally, Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $151.89.

Franco-Nevada Price Performance

FNV opened at $125.50 on Friday. The stock has a fifty day moving average of $122.17 and a 200-day moving average of $116.10. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $149.06.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a negative net margin of 39.88% and a positive return on equity of 10.81%. The business had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter in the previous year, the company earned $0.79 EPS. The business’s revenue was down 7.1% on a year-over-year basis. On average, equities research analysts predict that Franco-Nevada Co. will post 3.2 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, June 13th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. Franco-Nevada’s dividend payout ratio (DPR) is presently -57.83%.

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.