Integrated Wealth Concepts LLC Buys New Shares in Franco-Nevada Corporation $FNV

Key Points

• Integrated Wealth Concepts LLC has invested approximately $3.99 million in Franco-Nevada Corporation, acquiring 25,352 shares during the first quarter.
• Franco-Nevada's recent quarterly earnings reported $1.24 earnings per share, exceeding analyst expectations of $1.10, with a revenue increase of 42.0% compared to the previous year.
• The stock has an average rating of “Moderate Buy” from analysts, with new target prices being raised by institutions such as Raymond James and TD Securities.

Integrated Wealth Concepts LLC purchased a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 25,352 shares of the basic materials company's stock, valued at approximately $3,994,000.

Several other hedge funds have also recently bought and sold shares of FNV. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Franco-Nevada by 198.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after acquiring an additional 1,133,373 shares in the last quarter. Two Sigma Advisers LP raised its position in Franco-Nevada by 40.8% in the 4th quarter. Two Sigma Advisers LP now owns 1,349,300 shares of the basic materials company's stock valued at $158,664,000 after purchasing an additional 391,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Franco-Nevada by 101.1% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock worth $105,731,000 after acquiring an additional 337,926 shares during the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Franco-Nevada by 53.8% during the first quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock worth $138,945,000 after purchasing an additional 309,161 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Franco-Nevada by 280.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock valued at $57,526,000 after acquiring an additional 269,730 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent research reports. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. HC Wainwright boosted their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada raised their target price on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 4th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Price Performance

Shares of NYSE:FNV traded down $1.14 during trading on Friday, reaching $200.71. 803,819 shares of the company were exchanged, compared to its average volume of 647,920. The firm has a market capitalization of $38.68 billion, a PE ratio of 49.31, a P/E/G ratio of 2.69 and a beta of 0.41. The business's fifty day simple moving average is $173.94 and its 200-day simple moving average is $165.75. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $203.84.

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

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Investors 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 yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's dividend payout ratio is presently 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.