HB Wealth Management LLC purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,092 shares of the basic materials company's stock, valued at approximately $330,000.
A number of other institutional investors have also recently bought and sold shares of FNV. CX Institutional acquired a new stake in Franco-Nevada during the first quarter worth $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at about $32,000. Nexus Investment Management ULC acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at about $35,000. Golden State Wealth Management LLC boosted its position in shares of Franco-Nevada by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 115 shares in the last quarter. Finally, Hexagon Capital Partners LLC boosted its holdings in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the company. Raymond James Financial set a $186.00 price objective on Franco-Nevada and gave the company an "outperform" rating in a report on Wednesday, May 28th. Scotiabank boosted their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a "sector perform" rating in a research note on Monday, May 12th. HC Wainwright restated a "buy" rating and issued a $195.00 target price (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. UBS Group boosted their target price on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $172.13.
Check Out Our Latest Report on Franco-Nevada
Franco-Nevada Stock Performance
Franco-Nevada stock traded up $5.17 on Monday, reaching $166.85. The company's stock had a trading volume of 371,879 shares, compared to its average volume of 708,925. The business's fifty day moving average price is $164.51 and its 200 day moving average price is $156.11. The company has a market cap of $32.14 billion, a price-to-earnings ratio of 45.29, a PEG ratio of 2.15 and a beta of 0.36. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $179.99.
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, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The company had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same period in the prior year, the business earned $0.76 earnings per share. Franco-Nevada's quarterly revenue was up 43.5% on a year-over-year basis. As a group, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.
Franco-Nevada Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Investors of record on Thursday, June 12th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, June 12th. Franco-Nevada's dividend payout ratio is currently 47.50%.
Franco-Nevada Profile
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Free Report)
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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