Tidal Investments LLC Invests $29.50 Million in Franco-Nevada Co. (NYSE:FNV)

Tidal Investments LLC purchased a new position in shares of Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 250,875 shares of the basic materials company's stock, valued at approximately $29,500,000. Tidal Investments LLC owned 0.13% of Franco-Nevada at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FNV. Physician Wealth Advisors Inc. purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $49,000. Harbour Investments Inc. lifted its stake in shares of Franco-Nevada by 25.8% during the 4th quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company's stock worth $53,000 after acquiring an additional 93 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Franco-Nevada by 538.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 607 shares of the basic materials company's stock valued at $71,000 after acquiring an additional 512 shares during the period. SBI Securities Co. Ltd. purchased a new position in Franco-Nevada during the 4th quarter valued at $73,000. Finally, Jones Financial Companies Lllp grew its position in Franco-Nevada by 25.6% in the 4th quarter. Jones Financial Companies Lllp now owns 619 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 126 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 2.7%

Shares of NYSE FNV traded up $4.41 during midday trading on Friday, reaching $168.44. 245,294 shares of the company's stock traded hands, compared to its average volume of 724,137. The company has a market cap of $32.43 billion, a price-to-earnings ratio of -53.29, a P/E/G ratio of 9.78 and a beta of 0.45. The stock's 50 day simple moving average is $161.42 and its 200-day simple moving average is $140.43. Franco-Nevada Co. has a one year low of $112.70 and a one year high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.07. Franco-Nevada had a positive return on equity of 10.55% and a negative net margin of 55.28%. The company had revenue of $368.40 million during the quarter, compared to analyst estimates of $328.79 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. Franco-Nevada's revenue was up 43.5% on a year-over-year basis. Equities analysts predict that Franco-Nevada Co. 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, June 26th. Investors of record on Thursday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada's dividend payout ratio (DPR) is currently 47.50%.

Analysts Set New Price Targets

Several research firms have recently weighed in on FNV. BMO Capital Markets began coverage on Franco-Nevada in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. UBS Group raised their price target on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a "buy" rating in a research note on Friday, April 11th. National Bankshares reissued a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Raymond James upped their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an "outperform" rating in a research note on Friday, April 4th. Finally, HC Wainwright lifted their price target on shares of Franco-Nevada from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $162.75.

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.