Franco-Nevada Corporation (NYSE:FNV) Shares Acquired by Covea Finance

Covea Finance boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 182.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 286,170 shares of the basic materials company's stock after buying an additional 184,850 shares during the period. Franco-Nevada accounts for about 2.0% of Covea Finance's investment portfolio, making the stock its 13th biggest holding. Covea Finance owned approximately 0.15% of Franco-Nevada worth $45,096,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Confluence Investment Management LLC grew 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 buying an additional 84 shares during the last quarter. Harbour Investments Inc. boosted its stake in Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 93 shares in the last quarter. CoreCommodity Management LLC grew its holdings in Franco-Nevada by 2.9% in the fourth quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after purchasing an additional 108 shares during the last quarter. Quadcap Wealth Management LLC increased its position in shares of Franco-Nevada by 4.0% during the fourth quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock worth $374,000 after purchasing an additional 121 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its position in shares of Franco-Nevada by 25.6% during the fourth quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock worth $73,000 after purchasing an additional 126 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FNV shares. HC Wainwright reissued a "buy" rating and issued a $195.00 price objective (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. Royal Bank Of Canada raised their price target on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a report on Wednesday, June 4th. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Scotiabank increased their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. Six 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, the company currently has an average rating of "Moderate Buy" and an average price target of $169.63.

Franco-Nevada Stock Down 1.3%

Shares of Franco-Nevada stock traded down $2.23 on Friday, reaching $165.98. 990,373 shares of the stock were exchanged, compared to its average volume of 740,562. The business has a 50 day moving average price of $168.08 and a two-hundred day moving average price of $147.72. The firm has a market capitalization of $31.98 billion, a price-to-earnings ratio of 51.87, a PEG ratio of 2.30 and a beta of 0.42. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month 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 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business's quarterly revenue was up 43.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.76 EPS. Research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, June 12th. 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.