Merit Financial Group LLC acquired a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,113 shares of the basic materials company's stock, valued at approximately $333,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Essex Financial Services Inc. boosted its holdings in shares of Franco-Nevada by 2.2% in the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock worth $458,000 after buying an additional 84 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Franco-Nevada by 1.5% in the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after acquiring an additional 93 shares during the last quarter. CoreCommodity Management LLC increased its holdings in shares of Franco-Nevada by 2.9% in the 4th quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after buying an additional 108 shares during the last quarter. Finally, Quadcap Wealth Management LLC increased its stake in Franco-Nevada by 4.0% in the fourth quarter. Quadcap Wealth Management LLC now owns 3,184 shares of the basic materials company's stock valued at $374,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.
Franco-Nevada Stock Up 1.6%
Shares of FNV traded up $2.61 during trading hours on Thursday, reaching $167.61. 753,037 shares of the company traded hands, compared to its average volume of 738,451. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $182.28. The company's fifty day moving average price is $165.54 and its two-hundred day moving average price is $145.12. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of -53.04, a price-to-earnings-growth ratio of 9.78 and a beta of 0.42.
Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data 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. The business had revenue of $368.40 million during the quarter, compared to the consensus estimate of $328.79 million. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The firm'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. On average, analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.
Franco-Nevada Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be given a $0.38 dividend. The ex-dividend date is Thursday, June 12th. This represents a $1.52 annualized dividend and a yield of 0.91%. Franco-Nevada's dividend payout ratio (DPR) is presently 47.50%.
Analyst Ratings Changes
Several research analysts have commented on the stock. 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. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, April 7th. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Finally, TD Securities downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective for the company. in a research note on Tuesday, March 11th. 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, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus target price of $169.63.
View Our Latest Analysis on FNV
Franco-Nevada Company 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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