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Cerity Partners LLC Acquires 8,623 Shares of Franco-Nevada Corporation (NYSE:FNV)

Franco-Nevada logo with Basic Materials background

Cerity Partners LLC raised its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 393.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,812 shares of the basic materials company's stock after purchasing an additional 8,623 shares during the quarter. Cerity Partners LLC's holdings in Franco-Nevada were worth $1,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP grew its position in Franco-Nevada by 4.4% during the first quarter. Allworth Financial LP now owns 4,066 shares of the basic materials company's stock valued at $697,000 after buying an additional 171 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Franco-Nevada by 8.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 71,161 shares of the basic materials company's stock valued at $11,231,000 after acquiring an additional 5,319 shares during the period. Brown Advisory Inc. purchased a new stake in shares of Franco-Nevada in the 1st quarter worth $205,000. Fullcircle Wealth LLC raised its holdings in Franco-Nevada by 25.7% in the 1st quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock worth $1,531,000 after purchasing an additional 1,835 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Franco-Nevada by 36.1% during the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock valued at $9,200,000 after purchasing an additional 15,483 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

FNV has been the topic of several recent research reports. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Scotiabank raised their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. UBS Group increased their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Finally, BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, Franco-Nevada has an average rating of "Moderate Buy" and an average target price of $172.13.

Check Out Our Latest Report on FNV

Franco-Nevada Stock Performance

Shares of NYSE:FNV traded up $0.50 on Thursday, reaching $162.71. The company's stock had a trading volume of 857,702 shares, compared to its average volume of 654,783. The company has a 50-day simple moving average of $164.88 and a 200 day simple moving average of $154.26. The company has a market cap of $31.35 billion, a P/E ratio of 50.85, a PEG ratio of 2.16 and a beta of 0.41. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The firm had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The company's revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. On average, equities research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.93%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is currently 47.50%.

Franco-Nevada Company Profile

(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.

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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