Summit Financial LLC Makes New Investment 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 acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,700 shares of the basic materials company's stock, valued at approximately $425,000.

Several other institutional investors have also made changes to their positions in the business. Bessemer Group Inc. raised its position in Franco-Nevada by 1,583.3% in the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company's stock worth $2,067,000 after purchasing an additional 12,350 shares in the last quarter. St. James Investment Company LLC lifted its position in shares of Franco-Nevada by 29.3% during the 1st quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company's stock worth $34,661,000 after buying an additional 49,907 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Franco-Nevada by 36.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company's stock worth $9,200,000 after buying an additional 15,483 shares during the period. D.A. Davidson & CO. acquired a new stake in Franco-Nevada in the 1st quarter valued at $265,000. Finally, Fullcircle Wealth LLC grew its position in Franco-Nevada by 25.7% in the first quarter. Fullcircle Wealth LLC now owns 8,964 shares of the basic materials company's stock valued at $1,531,000 after acquiring an additional 1,835 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Trading Up 2.3%

Shares of NYSE:FNV traded up $4.21 during midday trading on Friday, hitting $188.67. The company had a trading volume of 507,316 shares, compared to its average volume of 673,419. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $189.00. The firm has a fifty day simple moving average of $167.86 and a 200 day simple moving average of $161.95. The stock has a market cap of $36.36 billion, a price-to-earnings ratio of 46.36, a PEG ratio of 2.51 and a beta of 0.36.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.14. The firm had revenue of $369.40 million for 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 quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Equities analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be issued a $0.38 dividend. 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 payout ratio is 37.35%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FNV shares. Raymond James Financial increased their target price on shares of Franco-Nevada from $186.00 to $188.00 and gave the stock an "outperform" rating in a research report on Tuesday, August 12th. HC Wainwright raised their price objective on shares of Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a report on Tuesday, August 12th. BMO Capital Markets reissued an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. UBS Group increased their price target on Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, July 3rd. Finally, National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.88.

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.