Wexford Capital LP Acquires New Position in Franco-Nevada Co. (NYSE:FNV)

Wexford Capital LP acquired a new position in Franco-Nevada Co. (NYSE:FNV - Free Report) TSE: FNV during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 7,023 shares of the basic materials company's stock, valued at approximately $826,000.

Several other institutional investors also recently bought and sold shares of the company. Essex Financial Services Inc. raised its position in shares of Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company's stock valued at $458,000 after buying an additional 84 shares during the period. Harbour Investments Inc. raised its position 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 valued at $53,000 after buying an additional 93 shares during the period. Mutual Advisors LLC raised its position in shares of Franco-Nevada by 4.0% during the 4th quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company's stock valued at $309,000 after buying an additional 96 shares during the period. Sustainable Insight Capital Management LLC raised its position in Franco-Nevada by 2.7% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company's stock valued at $441,000 after purchasing an additional 100 shares during the period. Finally, Blossom Wealth Management raised its position in Franco-Nevada by 3.9% in the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 108 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FNV shares. UBS Group boosted their target price on Franco-Nevada from $170.00 to $190.00 and gave the company a "buy" rating in a research report on Friday, April 11th. Scotiabank upped their price objective on Franco-Nevada from $165.00 to $169.00 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Royal Bank of Canada upped their price objective on Franco-Nevada from $145.00 to $155.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 11th. National Bankshares reaffirmed a "sector perform" rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Finally, TD Securities lowered Franco-Nevada from a "buy" rating to a "hold" rating and set a $152.00 price objective on the stock. in a research report on Tuesday, March 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and an average price target of $162.75.

Franco-Nevada Stock Performance

Shares of FNV stock traded up $3.97 during mid-day trading on Friday, hitting $168.00. 483,799 shares of the stock were exchanged, compared to its average volume of 725,214. The stock's fifty day simple moving average is $161.70 and its two-hundred day simple moving average is $140.67. The stock has a market capitalization of $32.35 billion, a price-to-earnings ratio of -53.17, a P/E/G ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $178.74.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $328.79 million. During the same quarter last year, the company posted $0.76 earnings per share. The business's quarterly revenue was up 43.5% compared to the same quarter last year. On average, research analysts expect that Franco-Nevada Co. will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.90%. Franco-Nevada's dividend payout ratio (DPR) is 47.50%.

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.