Clare Market Investments LLC Buys Shares of 4,635 Franco-Nevada Corporation $FNV

Key Points

• Clare Market Investments LLC has invested approximately $760,000 in Franco-Nevada Corporation, acquiring 4,635 shares during the 2nd quarter.
• Several hedge funds, including Bessemer Group Inc. and St. James Investment Company LLC, have significantly increased their positions in Franco-Nevada, indicating strong institutional interest in the stock.
• Franco-Nevada recently declared a quarterly dividend of $0.38 per share, reflecting a dividend yield of 0.8% based on an annualized payout of $1.52.

Clare Market Investments LLC acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,635 shares of the basic materials company's stock, valued at approximately $760,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA increased its position in shares of Franco-Nevada by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock valued at $1,923,400,000 after buying an additional 207,232 shares during the period. Vanguard Group Inc. boosted its stake in Franco-Nevada by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock worth $1,233,891,000 after acquiring an additional 45,924 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Franco-Nevada by 1.7% during the first quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company's stock worth $313,071,000 after acquiring an additional 33,044 shares in the last quarter. TD Asset Management Inc boosted its stake in Franco-Nevada by 6.8% during the first quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock worth $302,979,000 after acquiring an additional 122,071 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Franco-Nevada by 16.0% in the first quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company's stock worth $276,224,000 after buying an additional 242,196 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FNV shares. Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. HC Wainwright increased their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Raymond James Financial increased their price objective on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Finally, UBS Group increased their price objective on shares of Franco-Nevada from $210.00 to $250.00 and gave the company a "buy" rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $183.88.

Franco-Nevada Stock Performance

FNV stock traded up $11.27 during trading on Friday, hitting $213.77. 2,185,017 shares of the company's stock traded hands, compared to its average volume of 675,512. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $214.82. The business has a fifty day simple moving average of $178.36 and a 200 day simple moving average of $167.89. The stock has a market capitalization of $41.20 billion, a price-to-earnings ratio of 52.52, a P/E/G ratio of 2.81 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $382.70 million. During the same quarter last year, the business earned $0.75 earnings per share. Franco-Nevada's quarterly revenue was up 42.0% compared to the same quarter last year. Research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is 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.