Franco-Nevada Corporation $FNV Stock Purchased by Annex Advisory Services LLC

Annex Advisory Services LLC increased its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 63.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 262,442 shares of the basic materials company's stock after purchasing an additional 101,837 shares during the period. Franco-Nevada accounts for 1.0% of Annex Advisory Services LLC's portfolio, making the stock its 26th largest holding. Annex Advisory Services LLC owned 0.14% of Franco-Nevada worth $62,490,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 3.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company's stock worth $857,196,000 after purchasing an additional 110,222 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $372,435,000. Amundi raised its holdings in shares of Franco-Nevada by 4.4% during the 1st quarter. Amundi now owns 1,191,417 shares of the basic materials company's stock worth $294,340,000 after acquiring an additional 50,455 shares in the last quarter. Canada Pension Plan Investment Board purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth approximately $254,515,000. Finally, Legal & General Group Plc bought a new position in shares of Franco-Nevada during the 2nd quarter valued at approximately $193,879,000. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Up 1.1%

FNV stock opened at $243.63 on Friday. The stock has a market capitalization of $46.99 billion, a PE ratio of 31.85, a price-to-earnings-growth ratio of 2.21 and a beta of 0.36. Franco-Nevada Corporation has a 52 week low of $181.50 and a 52 week high of $285.67. The firm has a 50 day moving average of $253.34 and a 200 day moving average of $236.33.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly 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 company had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS. On average, equities research analysts expect that Franco-Nevada Corporation will post 7.56 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date was Thursday, September 10th. Franco-Nevada's payout ratio is presently 23.01%.

Analyst Ratings Changes

FNV has been the subject of a number of recent research reports. Scotiabank cut their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday, September 16th. Weiss Ratings upgraded shares of Franco-Nevada from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research raised shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, UBS Group dropped their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.80.

Franco-Nevada Profile

Franco-Nevada Corporation NYSE: FNV is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.

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