Caisse DE Depot ET Placement DU Quebec Increases Stock Position in Franco-Nevada Corporation $FNV

Key Points

• Caisse DE Depot ET Placement DU Quebec significantly increased its stake in Franco-Nevada Corp, raising its holdings by 280.7% to own 365,812 shares worth approximately $57.5 million.
• Franco-Nevada's most recent quarterly earnings beat expectations, with earnings per share of $1.24 against an estimate of $1.10, reflecting an annual revenue increase of 42%.
• The company also announced a quarterly dividend of $0.38 per share, providing a yield of 0.8% and a payout ratio of 37.35%.

Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 280.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 365,812 shares of the basic materials company's stock after purchasing an additional 269,730 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned 0.19% of Franco-Nevada worth $57,526,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CX Institutional bought a new stake in Franco-Nevada during the 1st quarter valued at $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the 1st quarter valued at $32,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the 1st quarter valued at $35,000. Golden State Wealth Management LLC increased its stake in Franco-Nevada by 100.0% during 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 Franco-Nevada by 494.7% during 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. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Up 2.3%

Shares of NYSE:FNV traded up $4.21 during midday trading on Friday, reaching $188.67. The company had a trading volume of 507,316 shares, compared to its average volume of 673,419. The company's 50 day moving average price is $167.86 and its 200 day moving average price is $161.95. The stock has a market cap of $36.36 billion, a P/E ratio of 46.36, a P/E/G ratio of 2.51 and a beta of 0.36. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $189.00.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The company had revenue of $369.40 million for 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 12.56%. The firm's quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 EPS. Research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 of this dividend is Thursday, September 11th. Franco-Nevada's payout ratio is 37.35%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Sunday, August 24th. TD Securities lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Finally, UBS Group lifted their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $178.88.

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.