Russell Investments Group Ltd. Grows Holdings in Franco-Nevada Corporation $FNV

Key Points

• Russell Investments Group Ltd. increased its holdings in Franco-Nevada Corporation by 19.2%, owning 92,422 shares worth approximately $14.5 million by the end of the first quarter.
• Franco-Nevada reported $1.24 EPS for the recent quarter, exceeding analysts' expectations of $1.10, with a revenue of $369.40 million, up 42% year-over-year.
• The company announced a quarterly dividend of $0.38 per share, with an annualized yield of 0.9%, to be paid to shareholders on September 25th.

Russell Investments Group Ltd. boosted its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 19.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,422 shares of the basic materials company's stock after buying an additional 14,876 shares during the period. Russell Investments Group Ltd.'s holdings in Franco-Nevada were worth $14,535,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Franco-Nevada by 1.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock valued at $1,923,400,000 after purchasing an additional 207,232 shares during the period. Capital World Investors increased its holdings in Franco-Nevada by 9.8% in the fourth quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock worth $934,106,000 after purchasing an additional 711,591 shares in the last quarter. Vanguard Group Inc. lifted its stake in Franco-Nevada by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock valued at $1,233,891,000 after buying an additional 45,924 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock worth $582,100,000 after buying an additional 1,650,358 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock worth $504,069,000 after buying an additional 400,384 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FNV. UBS Group lifted their price objective on shares of Franco-Nevada from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. CIBC reaffirmed an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. HC Wainwright boosted their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research note on Tuesday, August 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Trading Up 1.8%

Franco-Nevada stock traded up $3.2850 during trading on Thursday, hitting $181.6250. 378,391 shares of the company were exchanged, compared to its average volume of 828,508. The company has a market capitalization of $35.00 billion, a P/E ratio of 44.63, a PEG ratio of 2.31 and a beta of 0.36. The business's 50 day moving average is $165.64 and its 200 day moving average is $159.69. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $183.91.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data 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. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm 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 firm earned $0.75 EPS. The business's revenue for the quarter was up 42.0% compared to the same quarter last year. Equities analysts expect 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 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 yield of 0.8%. Franco-Nevada's payout ratio is 37.35%.

About Franco-Nevada

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.