111 Capital Boosts Stock Position in Franco-Nevada Corporation $FNV

Key Points

• 111 Capital increased its stake in Franco-Nevada Corporation by 65.5% in the second quarter, owning 11,388 shares valued at $1,871,000.
• Analysts have varied ratings on Franco-Nevada, with UBS Group raising its price target from $210 to $250, while Zacks Research downgraded the stock from "strong-buy" to "hold".
• The company recently announced a quarterly dividend of $0.38 per share, with an annualized dividend yield of 0.7% and a payout ratio of 37.35%.

111 Capital boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 65.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,388 shares of the basic materials company's stock after purchasing an additional 4,507 shares during the quarter. 111 Capital's holdings in Franco-Nevada were worth $1,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CX Institutional purchased a new stake in Franco-Nevada during the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in Franco-Nevada during the 1st quarter worth approximately $32,000. Golden State Wealth Management LLC increased its holdings in Franco-Nevada by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after purchasing an additional 115 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Franco-Nevada by 494.7% during the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after purchasing an additional 188 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth approximately $57,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. UBS Group lifted their price objective on Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Friday, September 19th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Canaccord Genuity Group downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Raymond James Financial boosted their price target on Franco-Nevada from $203.00 to $218.00 and gave the company an "outperform" rating in a report on Tuesday, September 23rd. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $194.57.

Franco-Nevada Stock Up 1.4%

Shares of Franco-Nevada stock opened at $220.55 on Friday. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.42. The business has a fifty day simple moving average of $190.09 and a 200-day simple moving average of $172.51. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company's revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada's dividend payout ratio is currently 37.35%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.