Sprott Inc. Purchases 1,862 Shares of Franco-Nevada Corporation $FNV

Key Points

• Sprott Inc. increased its stake in Franco-Nevada Corporation by 0.8% during the first quarter, now holding 235,998 shares valued at approximately $37.18 million.
• Franco-Nevada reported earnings of $1.24 per share, surpassing the consensus estimate by $0.14 while experiencing a 42% revenue increase compared to the previous year.
• The company announced a quarterly dividend of $0.38 per share, with an annualized yield of 0.8%, and holds a consensus rating of "Moderate Buy" among analysts.

Sprott Inc. increased its stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 0.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 235,998 shares of the basic materials company's stock after buying an additional 1,862 shares during the quarter. Franco-Nevada comprises approximately 2.0% of Sprott Inc.'s holdings, making the stock its 13th largest holding. Sprott Inc. owned approximately 0.12% of Franco-Nevada worth $37,180,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SBI Securities Co. Ltd. lifted its position in Franco-Nevada by 10.3% in the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company's stock worth $108,000 after buying an additional 64 shares during the last quarter. Confluence Investment Management LLC lifted its position in Franco-Nevada by 1.5% in the first quarter. Confluence Investment Management LLC now owns 5,874 shares of the basic materials company's stock worth $926,000 after buying an additional 84 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Franco-Nevada by 0.5% in the first quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company's stock worth $2,917,000 after buying an additional 100 shares during the last quarter. CoreCommodity Management LLC lifted its position in Franco-Nevada by 2.9% in the fourth quarter. CoreCommodity Management LLC now owns 3,869 shares of the basic materials company's stock worth $455,000 after buying an additional 108 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in Franco-Nevada by 10.0% in the first quarter. Trust Co. of Vermont now owns 1,265 shares of the basic materials company's stock worth $199,000 after buying an additional 115 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on FNV shares. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Sunday. Scotiabank boosted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 12th. CIBC reissued an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Royal Bank Of Canada boosted their target price on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Finally, Zacks Research lowered shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Stock Up 1.7%

NYSE:FNV traded up $3.0610 during mid-day trading on Friday, reaching $184.9210. The company's stock had a trading volume of 808,681 shares, compared to its average volume of 688,990. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $186.12. The stock has a fifty day moving average of $166.18 and a 200-day moving average of $160.58. The firm has a market capitalization of $35.63 billion, a PE ratio of 45.44, a price-to-earnings-growth ratio of 2.45 and a beta of 0.36.

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 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 company had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The firm's revenue for the quarter was up 42.0% compared to the same quarter last year. On average, analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be issued a $0.38 dividend. The ex-dividend date is Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada's payout ratio is currently 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.