Cetera Investment Advisers Buys 2,939 Shares of Franco-Nevada Corporation (NYSE:FNV)

Key Points

• Cetera Investment Advisers increased its holdings in Franco-Nevada Corporation by 41%, acquiring an additional 2,939 shares and bringing its total to 10,110 shares, valued at approximately $1.59 million.
• Franco-Nevada reported a quarterly earnings per share (EPS) of $1.07, exceeding analysts' expectations of $1.00, with revenues of $368.4 million, showing a 43.5% increase year over year.
• Institutional investors hold about 77.06% of Franco-Nevada's stock, indicating strong institutional interest in the company amidst recent stock ratings that show a moderate buy consensus among analysts.

Cetera Investment Advisers raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 41.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,110 shares of the basic materials company's stock after buying an additional 2,939 shares during the period. Cetera Investment Advisers' holdings in Franco-Nevada were worth $1,593,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Price Capital Management Inc. purchased a new stake in shares of Franco-Nevada during the first quarter worth about $1,481,000. Choreo LLC purchased a new stake in shares of Franco-Nevada in the 1st quarter worth about $246,000. IFP Advisors Inc lifted its position in shares of Franco-Nevada by 92.1% in the 1st quarter. IFP Advisors Inc now owns 11,111 shares of the basic materials company's stock worth $1,751,000 after purchasing an additional 5,328 shares during the period. Berkeley Capital Partners LLC lifted its position in shares of Franco-Nevada by 1.0% in the 1st quarter. Berkeley Capital Partners LLC now owns 14,366 shares of the basic materials company's stock worth $2,264,000 after purchasing an additional 137 shares during the period. Finally, Markel Group Inc. lifted its holdings in Franco-Nevada by 8.7% in the first quarter. Markel Group Inc. now owns 525,250 shares of the basic materials company's stock worth $82,758,000 after buying an additional 42,000 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on FNV shares. Royal Bank Of Canada raised their price objective 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. Scotiabank raised their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday. CIBC restated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, Raymond James Financial raised their price objective on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a report on Tuesday. Six 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Up 0.6%

Shares of FNV stock traded up $1.08 during trading hours on Wednesday, hitting $178.91. 465,898 shares of the company's stock traded hands, compared to its average volume of 835,015. The stock's fifty day simple moving average is $164.68 and its two-hundred day simple moving average is $158.04. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $180.15. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 43.94, a PEG ratio of 2.34 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results 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. The company had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.82%. The firm's quarterly revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. On average, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

Franco-Nevada 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.