Franco-Nevada Corporation $FNV Shares Bought by HighTower Advisors LLC

Key Points

• HighTower Advisors LLC increased its position in Franco-Nevada Corporation by 19.4% in Q1, holding a total of 81,720 shares valued at $12.88 million.
• Franco-Nevada announced a quarterly dividend of $0.38, with a dividend yield of 0.9%, and a payout ratio of 37.35%.
• The company reported earnings of $1.24 per share, surpassing analysts' expectations, and has a consensus rating of "Moderate Buy" among equity research analysts.

HighTower Advisors LLC raised its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 19.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,720 shares of the basic materials company's stock after purchasing an additional 13,287 shares during the quarter. HighTower Advisors LLC's holdings in Franco-Nevada were worth $12,876,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FNV. Envestnet Asset Management Inc. raised its position in Franco-Nevada by 42.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,905 shares of the basic materials company's stock valued at $5,045,000 after purchasing an additional 12,688 shares during the period. NewEdge Advisors LLC raised its position in Franco-Nevada by 5.9% in the fourth quarter. NewEdge Advisors LLC now owns 5,642 shares of the basic materials company's stock valued at $663,000 after purchasing an additional 313 shares during the period. Capital International Sarl raised its position in Franco-Nevada by 54.1% in the fourth quarter. Capital International Sarl now owns 12,266 shares of the basic materials company's stock valued at $1,441,000 after purchasing an additional 4,308 shares during the period. First Trust Advisors LP raised its position in Franco-Nevada by 1,024.9% in the fourth quarter. First Trust Advisors LP now owns 368,342 shares of the basic materials company's stock valued at $43,313,000 after purchasing an additional 335,598 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Franco-Nevada by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 244,478 shares of the basic materials company's stock valued at $28,746,000 after purchasing an additional 38,585 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Up 1.6%

Franco-Nevada stock traded up $2.8550 during midday trading on Friday, hitting $184.7150. The stock had a trading volume of 270,564 shares, compared to its average volume of 825,672. The stock has a market cap of $35.59 billion, a P/E ratio of 45.46, a P/E/G ratio of 2.37 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $186.12. The business has a fifty day moving average price of $165.92 and a 200 day moving average price of $160.00.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada's quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. On average, equities analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS 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. Investors of record on Thursday, September 11th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's payout ratio is currently 37.35%.

Analyst Ratings Changes

FNV has been the topic of several research reports. Zacks Research lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Saturday, August 16th. TD Securities lifted their target price on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research report on Tuesday, August 12th. Finally, Raymond James Financial lifted their target price on Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $178.88.

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.