Palisade Capital Management LP Raises Holdings in Franco-Nevada Corporation (NYSE:FNV)

Palisade Capital Management LP lifted its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 150,473 shares of the basic materials company's stock after acquiring an additional 9,182 shares during the period. Palisade Capital Management LP owned 0.08% of Franco-Nevada worth $23,708,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Confluence Investment Management LLC raised its position in shares of Franco-Nevada by 1.5% in the 1st quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after acquiring an additional 84 shares in the last quarter. Harbour Investments Inc. increased its position in Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares in the last quarter. CoreCommodity Management LLC increased its position in Franco-Nevada by 2.9% during the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock valued at $455,000 after buying an additional 108 shares in the last quarter. Trust Co. of Vermont increased its position in Franco-Nevada by 10.0% during the 1st quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock valued at $199,000 after buying an additional 115 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position 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 buying an additional 115 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Franco-Nevada stock traded up $1.10 during trading hours on Friday, hitting $165.54. 395,450 shares of the stock traded hands, compared to its average volume of 747,510. The firm's 50 day moving average price is $166.74 and its 200-day moving average price is $150.59. The stock has a market capitalization of $31.89 billion, a price-to-earnings ratio of 51.73, a P/E/G ratio of 2.26 and a beta of 0.41. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The business had revenue of $368.40 million for the quarter, compared to the consensus estimate of $328.79 million. During the same quarter in the previous year, the business earned $0.76 EPS. The company's quarterly revenue was up 43.5% compared to the same quarter last year. Research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.38 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.92%. Franco-Nevada's payout ratio is 47.50%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and set a $195.00 target price (up from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Scotiabank upped their target price on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus target price of $172.13.

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.