Thurston Springer Miller Herd & Titak Inc. Invests $477,000 in Franco-Nevada Corporation $FNV

Key Points

• Thurston Springer Miller Herd & Titak Inc. acquired 2,910 shares of Franco-Nevada Corporation, valued at approximately $477,000, during the 2nd quarter.
• Franco-Nevada's recent quarterly earnings report revealed an EPS of $1.24, surpassing analysts' expectations of $1.10, with revenue of $369.40 million.
• The company declared a quarterly dividend of $0.38, reflecting an annualized dividend yield of 0.7% and a payout ratio of 37.35%.

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,910 shares of the basic materials company's stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA raised its position in shares of Franco-Nevada by 1.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company's stock worth $1,923,400,000 after acquiring an additional 207,232 shares during the last quarter. Vanguard Group Inc. boosted its stake in Franco-Nevada by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company's stock valued at $1,233,891,000 after purchasing an additional 45,924 shares during the period. The Manufacturers Life Insurance Company raised its stake in Franco-Nevada by 1.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company's stock worth $313,071,000 after purchasing an additional 33,044 shares in the last quarter. TD Asset Management Inc increased its stake in Franco-Nevada by 6.8% during the 1st quarter. TD Asset Management Inc now owns 1,926,670 shares of the basic materials company's stock worth $302,979,000 after acquiring an additional 122,071 shares during the period. Finally, Mackenzie Financial Corp increased its stake in Franco-Nevada by 16.0% during the 1st quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company's stock worth $276,224,000 after acquiring an additional 242,196 shares during the period. Institutional investors and hedge funds own 77.06% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on FNV shares. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. HC Wainwright raised their target price on Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a report on Tuesday, August 12th. UBS Group raised their target price on Franco-Nevada from $210.00 to $250.00 and gave the company a "buy" rating in a report on Friday. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 20th. Finally, Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Saturday. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $183.88.

Franco-Nevada Stock Performance

FNV traded up $11.27 during trading on Friday, reaching $213.77. The stock had a trading volume of 2,185,017 shares, compared to its average volume of 675,512. The business has a 50-day moving average of $178.36 and a 200-day moving average of $167.73. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $214.82. The stock has a market cap of $41.20 billion, a PE ratio of 52.52, a PEG ratio of 2.66 and a beta of 0.41.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results 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. The company had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada's revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. Equities research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Thursday, September 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada's dividend payout ratio is presently 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.