Schwartz Investment Counsel Inc. Increases Stock Position in Franco-Nevada Corporation (NYSE:FNV)

Schwartz Investment Counsel Inc. increased its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 4.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,200 shares of the basic materials company's stock after buying an additional 5,000 shares during the period. Schwartz Investment Counsel Inc. owned 0.06% of Franco-Nevada worth $19,569,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Franco-Nevada by 3.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 423,166 shares of the basic materials company's stock worth $49,702,000 after buying an additional 16,029 shares in the last quarter. JPMorgan Chase & Co. raised its position in Franco-Nevada by 5.0% during the fourth quarter. JPMorgan Chase & Co. now owns 962,671 shares of the basic materials company's stock worth $113,200,000 after acquiring an additional 45,495 shares during the period. GAMMA Investing LLC acquired a new position in Franco-Nevada during the first quarter worth $1,415,000. Merit Financial Group LLC acquired a new position in Franco-Nevada during the first quarter worth $333,000. Finally, Autumn Glory Partners LLC acquired a new position in Franco-Nevada during the first quarter worth $315,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. UBS Group upped their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, April 11th. Scotiabank upped their price objective on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, April 7th. HC Wainwright restated a "buy" rating and set a $195.00 price objective (up from $180.00) on shares of Franco-Nevada in a research report on Wednesday, May 28th. Finally, Royal Bank Of Canada upped their price objective on shares of Franco-Nevada from $160.00 to $190.00 and gave the stock a "sector perform" rating in a research report on Wednesday, June 4th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $169.63.

Franco-Nevada Price Performance

FNV stock opened at $161.27 on Friday. The business has a 50 day simple moving average of $167.44 and a 200-day simple moving average of $148.83. The firm has a market capitalization of $31.07 billion, a PE ratio of 50.40, a price-to-earnings-growth ratio of 2.29 and a beta of 0.42. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $179.99.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The business had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. During the same period in the prior year, the business earned $0.76 earnings per share. The business's revenue was up 43.5% compared to the same quarter last year. On average, equities research analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

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

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.

Want to see what other hedge funds are holding FNV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV.

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.