Principal Financial Group Inc. Boosts Stake in Franco-Nevada Corporation (NYSE:FNV)

Principal Financial Group Inc. raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 34.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,710 shares of the basic materials company's stock after purchasing an additional 2,739 shares during the quarter. Principal Financial Group Inc.'s holdings in Franco-Nevada were worth $1,684,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNV. CX Institutional purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $30,000. Nexus Investment Management ULC purchased a new position in shares of Franco-Nevada during the first quarter valued at approximately $35,000. Golden State Wealth Management LLC boosted its position in shares of Franco-Nevada by 100.0% during 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 during the last quarter. Physician Wealth Advisors Inc. purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $49,000. Finally, Harbour Investments Inc. boosted its position in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock valued at $53,000 after buying an additional 93 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Up 1.0%

Shares of FNV stock traded up $1.62 during mid-day trading on Wednesday, hitting $162.19. 979,883 shares of the stock were exchanged, compared to its average volume of 756,864. The firm has a fifty day moving average of $164.67 and a 200 day moving average of $153.91. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $179.99. The company has a market cap of $31.25 billion, a PE ratio of 50.68, a price-to-earnings-growth ratio of 2.14 and a beta of 0.41.

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 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The firm had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the previous year, the company earned $0.76 EPS. The business's revenue for the quarter was up 43.5% compared to the same quarter last year. Equities analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.94%. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. UBS Group boosted their target price on Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. HC Wainwright restated a "buy" rating and issued a $195.00 target price (up from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada boosted their target price on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $172.13.

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.