Northwest & Ethical Investments L.P. Purchases 6,482 Shares of Franco-Nevada Corporation $FNV

Key Points

• Northwest & Ethical Investments L.P. has increased its stake in Franco-Nevada Corporation by 4.9% in the first quarter, now owning approximately 0.07% of the company valued at $21.67 million.
• Franco-Nevada Corporation reported $1.24 EPS for the last quarter, exceeding analysts' expectations, while its revenue grew 42.0% year-over-year.
• The company has declared a quarterly dividend of $0.38 per share, with a dividend yield of 0.9% and a payout ratio of 37.35%.

Northwest & Ethical Investments L.P. increased its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 137,709 shares of the basic materials company's stock after purchasing an additional 6,482 shares during the quarter. Northwest & Ethical Investments L.P. owned about 0.07% of Franco-Nevada worth $21,672,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. lifted its stake in Franco-Nevada by 10.3% during the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock valued at $108,000 after buying an additional 64 shares in the last quarter. Confluence Investment Management LLC lifted its position in shares of Franco-Nevada by 1.5% in the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after purchasing an additional 84 shares in the last quarter. Public Sector Pension Investment Board lifted its position in shares of Franco-Nevada by 0.5% in the first quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company's stock worth $2,917,000 after purchasing an additional 100 shares in the last quarter. CoreCommodity Management LLC lifted its position in shares of 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 in the last quarter. Finally, Golden State Wealth Management LLC lifted its position in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after purchasing an additional 115 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on FNV. Raymond James Financial increased their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. HC Wainwright increased their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. TD Securities increased their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Up 2.8%

Shares of NYSE:FNV traded up $4.7830 during trading on Wednesday, reaching $178.1830. The stock had a trading volume of 728,111 shares, compared to its average volume of 831,419. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $180.98. The firm has a market capitalization of $34.34 billion, a price-to-earnings ratio of 43.78, a P/E/G ratio of 2.34 and a beta of 0.36. The stock has a fifty day simple moving average of $165.38 and a two-hundred day simple moving average of $159.56.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company's quarterly revenue was up 42.0% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.9%. Franco-Nevada's dividend payout ratio (DPR) is currently 37.35%.

About Franco-Nevada

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.