Summit Financial LLC Buys New Stake in Franco-Nevada Corporation $FNV

Key Points

• Summit Financial LLC purchased a new stake of 2,700 shares in Franco-Nevada Corporation valued at approximately $425,000 during the 1st quarter.
• Franco-Nevada has received mixed analyst ratings, with Zacks downgrading it to "hold," while TD Securities and HC Wainwright set higher price targets and maintained a "buy" rating.
• The company recently reported quarterly earnings of $1.24 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.38 per share set to be paid on September 25th.

Summit Financial LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,700 shares of the basic materials company's stock, valued at approximately $425,000.

Several other large investors have also recently added to or reduced their stakes in FNV. CX Institutional acquired a new stake in Franco-Nevada in the 1st quarter valued at approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in Franco-Nevada in the 1st quarter valued at approximately $32,000. Nexus Investment Management ULC acquired a new stake in Franco-Nevada in the 1st quarter valued at approximately $35,000. Golden State Wealth Management LLC increased its position in Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 115 shares during the period. Finally, Hexagon Capital Partners LLC increased its position in Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 188 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

FNV has been the topic of several analyst reports. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. TD Securities lifted their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research report on Tuesday, August 12th. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Sunday. Royal Bank Of Canada lifted their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Finally, HC Wainwright lifted their price target on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

Franco-Nevada Stock Up 1.7%

FNV opened at $184.9210 on Monday. The firm has a market cap of $35.63 billion, a PE ratio of 45.44, a P/E/G ratio of 2.45 and a beta of 0.36. The business has a fifty day simple moving average of $166.18 and a 200-day simple moving average of $160.58. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $186.12.

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 the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company's revenue was up 42.0% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS. On average, equities research analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is currently 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.

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