Gulf International Bank UK Ltd Grows Stake in Franco-Nevada Corporation (NYSE:FNV)

Key Points

• Gulf International Bank UK Ltd increased its stake in Franco-Nevada Corporation by 2,795.9%, owning 11,236 shares valued at $1.77 million as of the first quarter.
• Franco-Nevada's recent quarterly earnings report showed earnings per share of $1.24, exceeding estimates of $1.10, and revenue growth of 42.0% year-over-year.
• The company announced a quarterly dividend of $0.38 per share, resulting in an annualized dividend yield of 0.9%.

Gulf International Bank UK Ltd grew its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2,795.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,236 shares of the basic materials company's stock after purchasing an additional 10,848 shares during the period. Gulf International Bank UK Ltd's holdings in Franco-Nevada were worth $1,770,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Franco-Nevada by 1,583.3% during the 1st quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock valued at $2,067,000 after purchasing an additional 12,350 shares in the last quarter. St. James Investment Company LLC grew its position in shares of Franco-Nevada by 29.3% during the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock valued at $34,661,000 after purchasing an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Franco-Nevada by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock worth $9,200,000 after acquiring an additional 15,483 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Franco-Nevada in the first quarter worth $265,000. Finally, Fullcircle Wealth LLC grew its position in Franco-Nevada by 25.7% in the first quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock worth $1,531,000 after acquiring an additional 1,835 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the subject of several research reports. UBS Group upped their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. TD Securities upped their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday. Royal Bank Of Canada upped their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Finally, HC Wainwright upped their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Stock Down 1.0%

Franco-Nevada stock opened at $177.28 on Friday. The company has a market capitalization of $34.15 billion, a PE ratio of 43.56, a P/E/G ratio of 2.38 and a beta of 0.36. The firm has a fifty day simple moving average of $164.82 and a two-hundred day simple moving average of $158.51. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $180.98.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm's revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's dividend payout ratio is 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.

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