Merit Financial Group LLC Invests $333,000 in Franco-Nevada Co. (NYSE:FNV)

Merit Financial Group LLC bought a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the first quarter, according to its most recent filing with the SEC. The firm bought 2,113 shares of the basic materials company's stock, valued at approximately $333,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNV. Charles Schwab Investment Management Inc. increased its holdings in shares of Franco-Nevada by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after purchasing an additional 16,029 shares during the period. JPMorgan Chase & Co. lifted its holdings in Franco-Nevada by 5.0% during the 4th quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock valued at $113,200,000 after purchasing an additional 45,495 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Franco-Nevada by 113.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,109 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 2,710 shares during the last quarter. Raymond James Financial Inc. bought a new position in Franco-Nevada during the 4th quarter valued at about $12,280,000. Finally, Northern Trust Corp raised its stake in shares of Franco-Nevada by 68.1% in the fourth quarter. Northern Trust Corp now owns 153,095 shares of the basic materials company's stock worth $18,002,000 after acquiring an additional 61,998 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FNV. Raymond James set a $186.00 target price on shares of Franco-Nevada and gave the stock an "outperform" rating in a research note on Wednesday, May 28th. Royal Bank of Canada boosted 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 note on Wednesday, June 4th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. HC Wainwright reissued a "buy" rating and set a $195.00 price target (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research note on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.63.

Franco-Nevada Stock Up 2.4%

NYSE FNV traded up $3.97 during trading on Friday, reaching $171.74. 1,090,157 shares of the stock traded hands, compared to its average volume of 739,544. The firm has a market cap of $33.09 billion, a price-to-earnings ratio of -54.35, a price-to-earnings-growth ratio of 9.78 and a beta of 0.42. The stock's 50-day moving average price is $166.56 and its 200 day moving average price is $145.95. Franco-Nevada Co. has a fifty-two week low of $112.70 and a fifty-two week high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.07. The company had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business's quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Analysts anticipate that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.

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.