Ashton Thomas Securities LLC bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 10,660 shares of the basic materials company's stock, valued at approximately $1,748,000.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. CX Institutional acquired a new position in shares of Franco-Nevada during the first quarter valued at about $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada in the 1st quarter valued at about $32,000. Golden State Wealth Management LLC increased its position in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares in the last quarter. Hexagon Capital Partners LLC raised its stake 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 buying an additional 188 shares during the period. Finally, Versant Capital Management Inc bought a new position in Franco-Nevada in the first quarter worth approximately $55,000. 77.06% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on FNV shares. Scotiabank upped their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Saturday, September 20th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Finally, TD Securities raised their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $194.57.
Read Our Latest Report on FNV
Franco-Nevada Stock Performance
Franco-Nevada stock opened at $217.40 on Friday. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The stock has a market cap of $41.90 billion, a P/E ratio of 53.42, a price-to-earnings-growth ratio of 2.91 and a beta of 0.42. The firm's fifty day moving average price is $188.94 and its 200-day moving average price is $172.05.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm's revenue was up 42.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. On average, analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.
Franco-Nevada Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a $0.38 dividend. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Franco-Nevada's dividend payout ratio is currently 37.35%.
Franco-Nevada Company Profile
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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
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