Tectonic Advisors LLC Acquires 1,837 Shares of Franco-Nevada Corporation (NYSE:FNV)

Tectonic Advisors LLC grew its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 28.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,285 shares of the basic materials company's stock after acquiring an additional 1,837 shares during the period. Tectonic Advisors LLC's holdings in Franco-Nevada were worth $1,305,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FNV. Norges Bank acquired a new position in shares of Franco-Nevada during the fourth quarter worth approximately $237,643,000. EdgePoint Investment Group Inc. raised its position in Franco-Nevada by 49.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after purchasing an additional 1,650,358 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Franco-Nevada by 246.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,164,394 shares of the basic materials company's stock valued at $136,796,000 after buying an additional 828,166 shares during the last quarter. Capital World Investors boosted its position in Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after buying an additional 711,591 shares during the last quarter. Finally, BLI Banque de Luxembourg Investments acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $52,857,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FNV has been the topic of several research reports. HC Wainwright reaffirmed a "buy" rating and set a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Scotiabank lifted their price target on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. UBS Group increased their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Finally, BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus target price of $172.13.

Franco-Nevada Stock Down 0.6%

Franco-Nevada stock traded down $0.89 during mid-day trading on Wednesday, hitting $156.16. 568,982 shares of the company's stock were exchanged, compared to its average volume of 751,683. The company's 50 day simple moving average is $165.45 and its 200-day simple moving average is $152.62. The firm has a market capitalization of $30.08 billion, a P/E ratio of 48.80, a PEG ratio of 2.17 and a beta of 0.41. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results 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. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The company had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. During the same period in the prior year, the company earned $0.76 earnings per share. The company's revenue for the quarter was up 43.5% compared to the same quarter last year. Research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.97%. Franco-Nevada's dividend payout ratio (DPR) is currently 47.50%.

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.