Apollon Wealth Management LLC Purchases New Stake in Franco-Nevada Corporation $FNV

Key Points

• Apollon Wealth Management LLC purchased 1,622 shares of Franco-Nevada Corporation, valued at approximately $266,000, during the second quarter.
• Franco-Nevada's quarterly earnings report showed an earnings per share of $1.24, beating estimates, with a revenue of $369.40 million, marking a 42.0% increase year-over-year.
• The company has recently declared a quarterly dividend of $0.38 per share, representing an annualized yield of 0.7% and a payout ratio of 37.35%.

Apollon Wealth Management LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,622 shares of the basic materials company's stock, valued at approximately $266,000.

A number of other institutional investors have also recently added to or reduced their stakes in FNV. Connor Clark & Lunn Investment Management Ltd. raised its position in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after purchasing an additional 1,133,373 shares during the period. Scharf Investments LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at about $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Franco-Nevada by 101.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock valued at $105,731,000 after buying an additional 337,926 shares during the period. Canada Pension Plan Investment Board lifted its position in Franco-Nevada by 53.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock worth $138,945,000 after acquiring an additional 309,161 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in Franco-Nevada by 280.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock worth $57,526,000 after acquiring an additional 269,730 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FNV shares. TD Securities lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. HC Wainwright raised their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Wall Street Zen cut shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Finally, Weiss Ratings downgraded Franco-Nevada from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of "Hold" and a consensus target price of $210.29.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $203.81 on Friday. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $225.63. The company's 50-day simple moving average is $199.22 and its 200-day simple moving average is $176.45. The stock has a market capitalization of $39.28 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 2.64 and a beta of 0.42.

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. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same period in the previous year, the company earned $0.75 earnings per share. Franco-Nevada's quarterly revenue was up 42.0% on a year-over-year basis. As a group, research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

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

Franco-Nevada Company 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.

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