Fiera Capital Corp Acquires 37,043 Shares of Franco-Nevada Corporation (NYSE:FNV)

Key Points

• Fiera Capital Corp increased its stake in Franco-Nevada Corporation by 10.9% during the first quarter, owning 376,754 shares valued at approximately $59.3 million.
• Franco-Nevada reported earnings per share of $1.07 for the last quarter, surpassing estimates and achieving a 43.5% year-over-year revenue growth.
• The company recently declared a quarterly dividend of $0.38 per share, translating to an annual yield of 0.95%.

Fiera Capital Corp boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 10.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,754 shares of the basic materials company's stock after acquiring an additional 37,043 shares during the quarter. Fiera Capital Corp owned 0.20% of Franco-Nevada worth $59,315,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FNV. Mackenzie Financial Corp increased its holdings in shares of Franco-Nevada by 16.0% during the first quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company's stock worth $276,224,000 after buying an additional 242,196 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $330,000. TD Asset Management Inc boosted its holdings in shares of Franco-Nevada by 6.8% in the 1st quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock worth $302,979,000 after acquiring an additional 122,071 shares in the last quarter. McCollum Christoferson Group LLC boosted its holdings in shares of Franco-Nevada by 4.4% in the 1st quarter. McCollum Christoferson Group LLC now owns 33,786 shares of the basic materials company's stock worth $5,323,000 after acquiring an additional 1,425 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its holdings in shares of Franco-Nevada by 7.1% in the 1st quarter. Pacer Advisors Inc. now owns 1,728 shares of the basic materials company's stock worth $272,000 after acquiring an additional 115 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a report on Tuesday, June 24th. HC Wainwright restated 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. 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, July 3rd. Royal Bank Of Canada raised their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Finally, Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $172.13.

Franco-Nevada Trading Up 1.0%

Shares of FNV stock traded up $1.62 on Tuesday, hitting $162.20. The stock had a trading volume of 566,610 shares, compared to its average volume of 656,161. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99. The firm has a market cap of $31.25 billion, a P/E ratio of 50.69, a PEG ratio of 2.14 and a beta of 0.41. The company has a fifty day moving average price of $164.93 and a two-hundred day moving average price of $155.14.

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. On average, analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's payout ratio is presently 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.