Aviso Financial Inc. Grows Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Aviso Financial Inc. has increased its stake in Franco-Nevada Corporation by 2.4% during the first quarter, now holding 97,141 shares valued at approximately $15.3 million.
• Franco-Nevada reported earnings of $1.24 per share for the last quarter, exceeding estimates, alongside a revenue of $369.4 million, with a year-over-year revenue increase of 42%.
• The company also announced a quarterly dividend of $0.38 per share, representing an annualized yield of 0.9%, with the payout ratio at 37.35%.

Aviso Financial Inc. boosted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,141 shares of the basic materials company's stock after buying an additional 2,288 shares during the period. Franco-Nevada makes up about 0.8% of Aviso Financial Inc.'s portfolio, making the stock its 28th biggest holding. Aviso Financial Inc. owned about 0.05% of Franco-Nevada worth $15,284,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNV. CX Institutional bought a new position in Franco-Nevada in the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada during the 1st quarter valued at about $32,000. Nexus Investment Management ULC purchased a new position in shares of Franco-Nevada during the 1st quarter valued at about $35,000. Golden State Wealth Management LLC increased its stake 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 valued at $36,000 after purchasing an additional 115 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake 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 valued at $36,000 after purchasing an additional 188 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. UBS Group lifted their price objective on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. HC Wainwright lifted their price target 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. TD Securities boosted their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada Stock Up 1.7%

NYSE FNV traded up $3.0610 during trading hours on Friday, hitting $184.9210. 808,681 shares of the stock were exchanged, compared to its average volume of 694,147. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $186.12. The company has a market cap of $35.63 billion, a price-to-earnings ratio of 45.44, a price-to-earnings-growth ratio of 2.42 and a beta of 0.36. The stock has a 50-day moving average of $166.18 and a 200 day moving average of $160.32.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) 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 company had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. During the same period last year, the company posted $0.75 earnings per share. The firm's quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada's dividend payout ratio is currently 37.35%.

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.