Franco-Nevada Corporation $FNV Stock Bought by Rahlfs Capital LLC

Key Points

• Rahlfs Capital significantly increased its Franco-Nevada stake by 751.9% in the third quarter, reaching 13,205 shares valued at approximately $3.14 million. Institutional investors collectively own 77.06% of the company.
• Analyst sentiment remains positive, with nine Buy ratings and five Holds producing a consensus “Moderate Buy” rating and an average price target of $267.80.
• Franco-Nevada shares recently traded at $228.78, while quarterly earnings of $1.81 per share and revenue of $580.9 million fell short of analyst estimates. The company paid a quarterly dividend of $0.44, representing a 0.8% annualized yield.

Rahlfs Capital LLC grew its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 751.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,205 shares of the basic materials company's stock after buying an additional 11,655 shares during the period. Franco-Nevada accounts for about 1.8% of Rahlfs Capital LLC's portfolio, making the stock its 11th biggest holding. Rahlfs Capital LLC's holdings in Franco-Nevada were worth $3,144,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in FNV. Silicon Valley Capital Partners bought a new position in Franco-Nevada during the second quarter worth $31,000. Ascentis Independent Advisors bought a new position in shares of Franco-Nevada in the first quarter valued at about $39,000. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $33,000. Global Retirement Partners LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $35,000. Finally, Dunhill Financial LLC bought a new stake in shares of Franco-Nevada during the 2nd quarter worth about $36,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a report on Monday, July 6th. UBS Group reduced their price objective on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Weiss Ratings upgraded Franco-Nevada from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Royal Bank Of Canada upped their target price on Franco-Nevada from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Finally, Bank of America lowered their target price on Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $267.80.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock traded down $3.16 during trading on Friday, reaching $228.78. 697,987 shares of the company's stock were exchanged, compared to its average volume of 683,927. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year high of $285.67. The company has a market cap of $44.12 billion, a P/E ratio of 29.91, a PEG ratio of 2.69 and a beta of 0.36. The firm's 50-day moving average price is $253.39 and its 200 day moving average price is $235.88.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business's revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.24 EPS. As a group, equities research analysts predict that Franco-Nevada Corporation will post 7.39 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Investors of record on Thursday, September 10th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada's dividend payout ratio is presently 23.01%.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company's business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.