Franco-Nevada Corporation $FNV Shares Purchased by Northern Trust Corp

Key Points

• Northern Trust Corp increased its holdings in Franco-Nevada Corporation by 12.8%, now owning approximately 172,675 shares valued at $27.2 million.
• Franco-Nevada reported a quarterly earnings per share of $1.24, exceeding analysts' expectations, with revenue up 42.0% year-over-year.
• The company declared a quarterly dividend of $0.38, representing an annualized yield of 0.8%, to be paid on September 25th.

Northern Trust Corp boosted its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 12.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 172,675 shares of the basic materials company's stock after buying an additional 19,580 shares during the period. Northern Trust Corp owned 0.09% of Franco-Nevada worth $27,207,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Aviso Financial Inc. lifted its holdings in shares of Franco-Nevada by 2.4% in the 1st quarter. Aviso Financial Inc. now owns 97,141 shares of the basic materials company's stock valued at $15,284,000 after acquiring an additional 2,288 shares during the last quarter. Global View Capital Management LLC grew its holdings in shares of Franco-Nevada by 13.8% during the first quarter. Global View Capital Management LLC now owns 3,686 shares of the basic materials company's stock valued at $581,000 after buying an additional 446 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Franco-Nevada by 4.9% during the first quarter. Northwest & Ethical Investments L.P. now owns 137,709 shares of the basic materials company's stock valued at $21,672,000 after buying an additional 6,482 shares during the last quarter. Raymond James Financial Inc. lifted its position in Franco-Nevada by 8.4% during the first quarter. Raymond James Financial Inc. now owns 113,164 shares of the basic materials company's stock valued at $17,830,000 after purchasing an additional 8,732 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its position in Franco-Nevada by 1.9% during the first quarter. Tocqueville Asset Management L.P. now owns 162,471 shares of the basic materials company's stock valued at $25,599,000 after purchasing an additional 3,032 shares during the period. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FNV. HC Wainwright increased their target price on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. CIBC reiterated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Scotiabank increased their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. UBS Group raised their price target on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, TD Securities lifted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Price Performance

Franco-Nevada stock traded down $1.00 during mid-day trading on Thursday, reaching $189.01. The company had a trading volume of 299,413 shares, compared to its average volume of 818,697. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $192.04. The company has a market capitalization of $36.42 billion, a P/E ratio of 46.42, a P/E/G ratio of 2.51 and a beta of 0.41. The stock's 50-day simple moving average is $169.33 and its 200-day simple moving average is $162.81.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada's revenue was up 42.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 earnings per share. On average, equities analysts forecast 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 issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada's payout ratio is presently 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.