Nuveen LLC Takes Position in Franco-Nevada Corporation $FNV

Key Points

• Nuveen LLC has acquired a new stake in Franco-Nevada Corporation worth approximately $31.85 million, owning 0.11% of the company as of the last quarter.
• Franco-Nevada reported an EPS of $1.24 for the last quarter, surpassing analysts' expectations, with a net margin of 58.82%.
• The company has announced a quarterly dividend of $0.38 per share, representing an annualized dividend yield of 0.9%.

Nuveen LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 202,549 shares of the basic materials company's stock, valued at approximately $31,852,000. Nuveen LLC owned 0.11% of Franco-Nevada as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FNV. CX Institutional acquired a new position in shares of Franco-Nevada during the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the first quarter worth approximately $32,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the first quarter worth approximately $35,000. Golden State Wealth Management LLC increased its holdings in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its holdings in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 2.0%

NYSE:FNV traded up $3.5770 during trading hours on Friday, hitting $185.4370. 206,710 shares of the stock traded hands, compared to its average volume of 825,385. The firm has a 50 day moving average price of $165.92 and a 200 day moving average price of $160.00. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $185.45. The firm has a market cap of $35.73 billion, a price-to-earnings ratio of 45.69, a PEG ratio of 2.37 and a beta of 0.36.

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, beating 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 company had revenue of $369.40 million for the quarter, compared to the consensus estimate of $382.70 million. During the same period in the previous year, the business earned $0.75 EPS. The company's revenue was up 42.0% on a year-over-year basis. Research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's payout ratio is currently 37.35%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Raymond James Financial upped their price target on Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a report on Tuesday, August 12th. Royal Bank Of Canada upped their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a report on Wednesday, June 4th. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Finally, CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.88.

Franco-Nevada 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.