Palisade Capital Management LP Has $23.71 Million Stock 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 first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,473 shares of the basic materials company's stock after purchasing an additional 9,182 shares during the quarter. Palisade Capital Management LP owned 0.08% of Franco-Nevada worth $23,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Franco-Nevada by 1,583.3% in the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock worth $2,067,000 after purchasing an additional 12,350 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Franco-Nevada by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock valued at $49,702,000 after acquiring an additional 16,029 shares in the last quarter. St. James Investment Company LLC raised its position in Franco-Nevada by 29.3% during the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after acquiring an additional 49,907 shares in the last quarter. Autumn Glory Partners LLC bought a new position in Franco-Nevada during the first quarter valued at approximately $315,000. Finally, JPMorgan Chase & Co. raised its position in Franco-Nevada by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after acquiring an additional 45,495 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Franco-Nevada Stock Up 0.7%

Shares of NYSE:FNV traded up $1.10 during trading on Friday, reaching $165.54. The stock had a trading volume of 395,450 shares, compared to its average volume of 747,510. The stock has a fifty day simple moving average of $166.74 and a two-hundred day simple moving average of $150.83. The firm 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 52 week low of $112.70 and a 52 week high of $179.99.

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

Franco-Nevada Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.92%. Franco-Nevada's payout ratio is 47.50%.

Franco-Nevada Company 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.