Sanders Morris Harris LLC Makes New Investment in Franco-Nevada Co. (NYSE:FNV)

Sanders Morris Harris LLC bought a new stake in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,610 shares of the basic materials company's stock, valued at approximately $254,000.

Other hedge funds have also made changes to their positions in the company. Nexus Investment Management ULC bought a new position in Franco-Nevada during the first quarter worth about $35,000. Physician Wealth Advisors Inc. bought a new position in Franco-Nevada during the fourth quarter worth about $49,000. Harbour Investments Inc. lifted its stake in Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after purchasing an additional 93 shares during the period. Versant Capital Management Inc bought a new position in Franco-Nevada during the first quarter worth about $55,000. Finally, Tower Research Capital LLC TRC lifted its stake in Franco-Nevada by 538.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock worth $71,000 after purchasing an additional 512 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Down 1.8%

FNV stock traded down $3.14 during trading on Thursday, hitting $173.93. The company had a trading volume of 427,809 shares, compared to its average volume of 728,134. The firm has a 50-day moving average price of $164.33 and a 200-day moving average price of $143.55. Franco-Nevada Co. has a 12 month low of $112.70 and a 12 month high of $181.27. The stock has a market cap of $33.49 billion, a price-to-earnings ratio of -55.04, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The firm had revenue of $368.40 million during the quarter, compared to analysts' expectations of $328.79 million. During the same quarter in the previous year, the company posted $0.76 EPS. Franco-Nevada's revenue was up 43.5% on a year-over-year basis. Equities analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio is presently 47.50%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FNV shares. HC Wainwright restated a "buy" rating and set a $195.00 price target (up previously from $180.00) on shares of Franco-Nevada in a research note on Wednesday, May 28th. TD Securities cut shares of Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 target price for the company. in a research note on Tuesday, March 11th. Raymond James set a $186.00 target price on shares of Franco-Nevada and gave the company an "outperform" rating in a research note on Wednesday, May 28th. UBS Group lifted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research note on Friday, April 11th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research note on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.63.

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.