Tocqueville Asset Management L.P. Buys 3,032 Shares of Franco-Nevada Corporation $FNV

Key Points

• Tocqueville Asset Management L.P. increased its holdings in Franco-Nevada Corporation by 1.9%, acquiring an additional 3,032 shares, bringing its total to 162,471 shares valued at $25.6 million.
• Franco-Nevada reported a quarterly earnings of $1.24 per share, surpassing estimates of $1.10, with revenues of $369.4 million, showing a 42% increase compared to the previous year.
• The company announced a quarterly dividend of $0.38, with a yield of 0.9%, set to be paid on September 25th, 2023, with an ex-dividend date of September 11th.

Tocqueville Asset Management L.P. boosted its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 1.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,471 shares of the basic materials company's stock after buying an additional 3,032 shares during the period. Tocqueville Asset Management L.P. owned approximately 0.08% of Franco-Nevada worth $25,599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FNV. EdgePoint Investment Group Inc. increased its position in Franco-Nevada by 49.9% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company's stock valued at $582,100,000 after buying an additional 1,650,358 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Franco-Nevada by 198.1% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock valued at $268,280,000 after purchasing an additional 1,133,373 shares during the last quarter. Capital World Investors boosted its stake in Franco-Nevada by 9.8% during the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company's stock valued at $934,106,000 after purchasing an additional 711,591 shares during the last quarter. BLI Banque de Luxembourg Investments acquired a new position in Franco-Nevada during the 4th quarter valued at about $52,857,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Franco-Nevada by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,286,661 shares of the basic materials company's stock valued at $504,069,000 after purchasing an additional 400,384 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FNV. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. National Bankshares reiterated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. BMO Capital Markets restated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. UBS Group upped their price target on shares of Franco-Nevada from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Finally, Royal Bank Of Canada increased their target price on Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 4th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $178.88.

Franco-Nevada Stock Up 1.9%

Shares of FNV stock traded up $3.4050 during trading hours on Thursday, hitting $181.7450. 321,633 shares of the company's stock traded hands, compared to its average volume of 828,093. The stock's fifty day simple moving average is $165.64 and its two-hundred day simple moving average is $159.69. Franco-Nevada Corporation has a 12-month low of $112.70 and a 12-month high of $183.91. The stock has a market cap of $35.02 billion, a price-to-earnings ratio of 44.70, a PEG ratio of 2.31 and a beta of 0.36.

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 EPS 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 business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The firm's revenue was up 42.0% on a year-over-year basis. On average, equities analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share 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. Investors of record on Thursday, September 11th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio is presently 37.35%.

Franco-Nevada Company 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.