BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Raises Position in Franco-Nevada Corporation $FNV

Key Points

• British Columbia Investment Management Corp has increased its stake in Franco-Nevada Corporation by 101.1% in Q1, holding approximately 672,148 shares valued at $105.73 million.
• Franco-Nevada reported an EPS of $1.24 for the last quarter, exceeding the consensus estimate of $1.10, with a significant net margin of 58.82%.
• The company declared a quarterly dividend of $0.38 per share, reflecting an annualized dividend of $1.52 with a dividend yield of 0.8%.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 101.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 672,148 shares of the basic materials company's stock after buying an additional 337,926 shares during the quarter. Franco-Nevada accounts for about 0.7% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's investment portfolio, making the stock its 26th biggest position. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.35% of Franco-Nevada worth $105,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FNV. CX Institutional bought a new position in shares of Franco-Nevada during the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Franco-Nevada in the first quarter valued at approximately $32,000. Nexus Investment Management ULC purchased a new stake in shares of Franco-Nevada in the first quarter valued at approximately $35,000. Golden State Wealth Management LLC boosted its holdings in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 115 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 188 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

Franco-Nevada stock traded down $0.26 during mid-day trading on Thursday, reaching $185.53. 159,233 shares of the company were exchanged, compared to its average volume of 820,786. The business has a fifty day moving average of $167.08 and a 200 day moving average of $161.21. The firm has a market cap of $35.75 billion, a P/E ratio of 45.59, a PEG ratio of 2.48 and a beta of 0.36. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $186.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping 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 return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada's revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. Sell-side analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada's dividend payout ratio is currently 37.35%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FNV. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. TD Securities boosted their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Raymond James Financial boosted their price target on Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Scotiabank boosted their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Finally, CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Seven 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, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $178.88.

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.