Raymond James Financial Inc. Increases Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Raymond James Financial Inc. increased its stake in Franco-Nevada Corporation by 8.4%, owning a total of 113,164 shares worth approximately $17.8 million.
• Franco-Nevada reported an EPS of $1.24 for the last quarter, exceeding analysts' estimates of $1.10, with a revenue of $369.4 million.
• The company announced a quarterly dividend of $0.38, with the ex-dividend date set for September 11th, reflecting an annualized yield of 0.8%.

Raymond James Financial Inc. increased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 8.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,164 shares of the basic materials company's stock after purchasing an additional 8,732 shares during the quarter. Raymond James Financial Inc. owned approximately 0.06% of Franco-Nevada worth $17,830,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. lifted its stake in Franco-Nevada by 49.9% in the fourth quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after buying an additional 1,650,358 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Franco-Nevada by 198.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after buying an additional 1,133,373 shares during the last quarter. BLI Banque de Luxembourg Investments purchased a new stake in Franco-Nevada in the fourth quarter valued at approximately $52,857,000. Two Sigma Advisers LP lifted its stake in Franco-Nevada by 40.8% in the fourth quarter. Two Sigma Advisers LP now owns 1,349,300 shares of the basic materials company's stock valued at $158,664,000 after buying an additional 391,000 shares during the last quarter. Finally, Tidal Investments LLC purchased a new stake in Franco-Nevada in the fourth quarter valued at approximately $29,500,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. Scotiabank boosted their price objective on Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. TD Securities upped their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Stock Performance

NYSE:FNV traded up $2.60 during trading hours on Tuesday, hitting $190.95. The company's stock had a trading volume of 189,185 shares, compared to its average volume of 816,338. The business's 50-day moving average is $168.28 and its two-hundred day moving average is $162.42. The company has a market capitalization of $36.80 billion, a PE ratio of 46.95, a PEG ratio of 2.51 and a beta of 0.41. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $191.56.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.Franco-Nevada's revenue was up 42.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada's dividend payout ratio is presently 37.35%.

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.