Franco-Nevada Corporation $FNV Shares Bought by FORA Capital LLC

Key Points

• FORA Capital LLC significantly increased its stake in Franco-Nevada Corporation by 169.8% during the first quarter, acquiring a total of 5,342 shares valued at $842,000.
• Franco-Nevada reported $1.24 earnings per share, surpassing analysts' expectations of $1.10, with a revenue of $369.40 million for the quarter.
• The company declared a quarterly dividend of $0.38, with an annualized dividend yield of 0.8%, set to be paid on September 25th.

FORA Capital LLC raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 169.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,342 shares of the basic materials company's stock after buying an additional 3,362 shares during the quarter. FORA Capital LLC's holdings in Franco-Nevada were worth $842,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Massachusetts Financial Services Co. MA grew its holdings 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 worth $1,923,400,000 after buying an additional 207,232 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Franco-Nevada by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock valued at $1,233,891,000 after purchasing an additional 45,924 shares during the period. EdgePoint Investment Group Inc. grew its holdings in shares of Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after purchasing an additional 1,650,358 shares during the period. TD Asset Management Inc grew its holdings in shares of Franco-Nevada by 6.8% in the first quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock valued at $302,979,000 after purchasing an additional 122,071 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Franco-Nevada by 16.0% during 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 during the period. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analyst Upgrades and Downgrades

FNV has been the subject of several research analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Scotiabank raised their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. Royal Bank Of Canada raised 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 note on Wednesday, June 4th. HC Wainwright raised their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, UBS Group raised their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Performance

FNV stock traded up $4.21 during midday trading on Monday, reaching $188.67. 507,316 shares of the company were exchanged, compared to its average volume of 653,849. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $189.00. The stock's 50-day simple moving average is $167.86 and its 200 day simple moving average is $162.07. The company has a market cap of $36.36 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 2.51 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 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $382.70 million. During the same quarter last year, the company earned $0.75 earnings per share. The firm's revenue for the quarter was up 42.0% on a year-over-year basis. On average, research analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm 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 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 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.