UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Acquires 105,164 Shares of Franco-Nevada Corporation $FNV

Key Points

• UBS Asset Management increased its position in Franco-Nevada Corporation by 70.8% during the first quarter, owning approximately 253,642 shares valued at about $39.96 million.
• Franco-Nevada reported earnings of $1.24 per share for the latest quarter, exceeding estimates by $0.14, with a net margin of 58.82% and a year-over-year revenue increase of 42.0%.
• The company declared a $0.38 quarterly dividend with a yield of 0.7%, scheduled for payment on September 25th to investors of record as of September 11th.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 70.8% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 253,642 shares of the basic materials company's stock after buying an additional 105,164 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.13% of Franco-Nevada worth $39,964,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. CX Institutional bought a new stake in Franco-Nevada during the first quarter worth about $30,000. Cullen Frost Bankers Inc. bought a new stake in Franco-Nevada during the first quarter worth about $32,000. Nexus Investment Management ULC bought a new stake in Franco-Nevada during the first quarter worth about $35,000. Golden State Wealth Management LLC grew its stake in Franco-Nevada by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock worth $36,000 after buying an additional 115 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Franco-Nevada by 494.7% during the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock worth $36,000 after buying an additional 188 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Price Performance

FNV stock traded up $11.27 during midday trading on Friday, reaching $213.77. The company had a trading volume of 2,185,017 shares, compared to its average volume of 675,512. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $214.82. The company has a market capitalization of $41.20 billion, a P/E ratio of 52.52, a P/E/G ratio of 2.66 and a beta of 0.41. The firm has a 50-day moving average price of $178.36 and a 200-day moving average price of $167.73.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $369.40 million during the quarter, compared to analysts' expectations of $382.70 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm's revenue was up 42.0% on a year-over-year basis. On average, equities analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 11th. Franco-Nevada's dividend payout ratio is currently 37.35%.

Analyst Upgrades and Downgrades

FNV has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed an "outperform" rating on shares of Franco-Nevada in a report on Wednesday, May 28th. TD Securities upped their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. UBS Group upped their price target on shares of Franco-Nevada from $210.00 to $250.00 and gave the stock a "buy" rating in a report on Friday. HC Wainwright upped their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a "buy" rating in a research report on Tuesday, August 12th. Finally, Scotiabank lifted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a "sector perform" rating in a report on Tuesday, August 12th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $183.88.

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.