Campbell & CO Investment Adviser LLC Buys New Stake in Franco-Nevada Corporation $FNV

Key Points

• Campbell & CO Investment Adviser LLC acquired a new position in Franco-Nevada Corporation, purchasing 21,508 shares valued at approximately $3,389,000 in the first quarter.
• Franco-Nevada's recent quarterly earnings report showed an EPS of $1.24, exceeding the consensus estimate of $1.10 and reflected a 42.0% year-over-year increase in revenue.
• Analysts have raised their price targets for Franco-Nevada, with a consensus average target price of $178.88 and a rating of "Moderate Buy."

Campbell & CO Investment Adviser LLC acquired a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,508 shares of the basic materials company's stock, valued at approximately $3,389,000.

Other large investors have also recently made changes to their positions in the company. CX Institutional acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $35,000. Golden State Wealth Management LLC lifted its holdings in shares of 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 worth $36,000 after acquiring an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its holdings in shares of Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after acquiring an additional 188 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FNV. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Raymond James Financial increased their target price on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada increased their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Sunday, August 24th. Finally, CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada Price Performance

Shares of FNV traded up $4.02 during midday trading on Friday, reaching $188.48. The stock had a trading volume of 248,710 shares, compared to its average volume of 818,649. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $188.89. The company's fifty day simple moving average is $167.41 and its two-hundred day simple moving average is $161.50. The company has a market cap of $36.32 billion, a price-to-earnings ratio of 46.26, a PEG ratio of 2.48 and a beta of 0.36.

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 analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same period last year, the business earned $0.75 EPS. The company's revenue was up 42.0% on a year-over-year basis. On average, sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is presently 37.35%.

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.