Franco-Nevada Corporation $FNV Shares Purchased by Korea Investment CORP

Key Points

• Korea Investment CORP increased its stake in Franco-Nevada Corporation by 2.6%, owning 126,467 shares valued at approximately $19.89 million after acquiring an additional 3,207 shares.
• Franco-Nevada reported a quarterly EPS of $1.24, surpassing the consensus estimate by $0.14, with revenues of $369.4 million during the quarter.
• The company announced a quarterly dividend of $0.38 per share, which will be paid on September 25th, giving it an annualized yield of 0.9%.

Korea Investment CORP lifted its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 126,467 shares of the basic materials company's stock after purchasing an additional 3,207 shares during the quarter. Korea Investment CORP owned about 0.07% of Franco-Nevada worth $19,888,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CX Institutional acquired a new position in Franco-Nevada in the first quarter valued at approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in Franco-Nevada during the first quarter worth $32,000. Nexus Investment Management ULC acquired a new stake in Franco-Nevada during the first quarter worth $35,000. Golden State Wealth Management LLC increased its stake in Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after acquiring an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after acquiring an additional 188 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

FNV has been the subject of several recent analyst reports. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. Royal Bank Of Canada lifted their price objective on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Scotiabank increased their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research note on Tuesday, August 12th. HC Wainwright increased their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Raymond James Financial increased their target price on Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 12th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Trading Up 2.8%

FNV opened at $178.1830 on Thursday. The firm has a market cap of $34.34 billion, a price-to-earnings ratio of 43.78, a PEG ratio of 2.31 and a beta of 0.36. The stock's 50-day moving average price is $165.64 and its 200 day moving average price is $159.69. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $180.98.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The firm had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. During the same period in the previous year, the firm posted $0.75 EPS. Franco-Nevada's revenue for the quarter was up 42.0% on a year-over-year basis. On average, research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's payout ratio is presently 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.

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