Schwartz Investment Counsel Inc. Has $20.77 Million Stock Holdings in Franco-Nevada Corporation $FNV

Key Points

• Schwartz Investment Counsel Inc. increased its stake in Franco-Nevada Corporation to 126,700 shares, valued at approximately $20.77 million, marking a 2.0% increase during the second quarter.
• Franco-Nevada recently reported $1.24 earnings per share, exceeding analyst expectations of $1.10, with a revenue of $369.4 million for the quarter.
• The dividend yield for Franco-Nevada is currently 0.7%, with the company having declared a quarterly dividend of $0.38 per share.

Schwartz Investment Counsel Inc. lifted its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 2.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,700 shares of the basic materials company's stock after acquiring an additional 2,500 shares during the period. Schwartz Investment Counsel Inc. owned approximately 0.07% of Franco-Nevada worth $20,769,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of FNV. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Franco-Nevada by 198.1% in the 1st 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 acquiring an additional 1,133,373 shares during the period. Scharf Investments LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter valued at approximately $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Franco-Nevada by 101.1% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock valued at $105,731,000 after acquiring an additional 337,926 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Franco-Nevada by 53.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock valued at $138,945,000 after acquiring an additional 309,161 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Franco-Nevada by 280.7% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock valued at $57,526,000 after acquiring an additional 269,730 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FNV has been the topic of several research analyst reports. Scotiabank raised their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 12th. Zacks Research downgraded shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Bank of America raised their target price on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a "neutral" rating in a report on Thursday, October 16th. Finally, UBS Group raised their target price on shares of Franco-Nevada from $250.00 to $260.00 and gave the stock a "buy" rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $210.29.

Franco-Nevada Stock Up 0.7%

Shares of FNV opened at $205.20 on Tuesday. The stock has a market capitalization of $39.55 billion, a P/E ratio of 50.42, a P/E/G ratio of 1.91 and a beta of 0.42. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $225.63. The company has a 50 day moving average of $199.80 and a 200-day moving average of $176.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.14. The company had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business's quarterly revenue was up 42.0% on a year-over-year basis. During the same period last year, the business earned $0.75 EPS. On average, sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, September 11th. Franco-Nevada's dividend payout ratio (DPR) is currently 37.35%.

Franco-Nevada Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.