JPMorgan Chase & Co. Purchases 47,098 Shares of Franco-Nevada Corporation $FNV

Key Points

• JPMorgan Chase & Co. increased its holdings in Franco-Nevada Corporation by 4.9%, acquiring an additional 47,098 shares, bringing its total ownership to approximately 1,009,769 shares valued at $159.1 million.
• Several institutional investors significantly increased their positions in Franco-Nevada, with Connor Clark & Lunn Investment Management expanding its stake by 198.1% during the first quarter.
• Franco-Nevada recently announced a quarterly dividend of $0.38 per share, with a payout ratio of 37.35%, reflecting the company's strong financial performance with a net margin of 58.82%.

JPMorgan Chase & Co. grew its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,009,769 shares of the basic materials company's stock after acquiring an additional 47,098 shares during the period. JPMorgan Chase & Co. owned about 0.52% of Franco-Nevada worth $159,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in FNV. Envestnet Asset Management Inc. lifted its position in shares of 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 acquiring an additional 12,688 shares in the last quarter. NewEdge Advisors LLC lifted its position in shares of 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 acquiring an additional 313 shares in the last quarter. Capital International Sarl lifted its position in shares of 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 acquiring an additional 4,308 shares in the last quarter. First Trust Advisors LP lifted its position in shares of 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 acquiring an additional 335,598 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of 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 acquiring an additional 38,585 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on FNV. HC Wainwright boosted their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, August 12th. Royal Bank Of Canada boosted their target price on Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Wall Street Zen downgraded Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, UBS Group boosted their target price on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Stock Down 1.0%

NYSE FNV traded down $1.8460 during trading hours on Tuesday, hitting $174.2140. 146,159 shares of the company were exchanged, compared to its average volume of 829,635. The stock has a 50-day moving average price of $165.20 and a 200 day moving average price of $159.46. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $180.98. The stock has a market cap of $33.57 billion, a PE ratio of 42.81, a price-to-earnings-growth ratio of 2.36 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data 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 company had revenue of $369.40 million for the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.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, sell-side analysts anticipate 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, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.9%. Franco-Nevada's dividend payout ratio is currently 37.35%.

Franco-Nevada Company Profile

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.