GAMMA Investing LLC Takes Position in Franco-Nevada Corporation (NYSE:FNV)

GAMMA Investing LLC bought a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,981 shares of the basic materials company's stock, valued at approximately $1,415,000.

Other large investors have also recently made changes to their positions in the company. Nexus Investment Management ULC bought a new stake in shares of Franco-Nevada in the first quarter worth about $35,000. Physician Wealth Advisors Inc. bought a new stake in shares of Franco-Nevada in the fourth quarter worth about $49,000. Harbour Investments Inc. increased its holdings in shares of Franco-Nevada by 25.8% in the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the last quarter. Versant Capital Management Inc bought a new stake in shares of Franco-Nevada in the first quarter worth about $55,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Franco-Nevada by 538.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after purchasing an additional 512 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $0.74 during trading hours on Wednesday, hitting $168.21. 610,924 shares of the company's stock traded hands, compared to its average volume of 742,563. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99. The business has a fifty day moving average price of $167.87 and a 200-day moving average price of $146.76. The firm has a market capitalization of $32.41 billion, a P/E ratio of 52.57, a price-to-earnings-growth ratio of 2.38 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating 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 business had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the previous year, the business earned $0.76 earnings per share. The company's revenue for the quarter was up 43.5% compared to the same quarter last year. As a group, equities analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

Wall Street Analyst Weigh In

Several research analysts recently commented on FNV shares. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. HC Wainwright reiterated a "buy" rating and issued a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. UBS Group lifted their price target on Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price target for the company. in a research report on Tuesday, March 11th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $169.63.

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.