Woodline Partners LP Makes New $32.45 Million Investment in Franco-Nevada Corporation $FNV

Key Points

• Woodline Partners LP has acquired 205,975 shares of Franco-Nevada Corporation, valued at approximately $32.45 million, representing around 0.11% ownership in the company.
• Franco-Nevada recently reported an earnings per share (EPS) of $1.24 for the quarter, exceeding the expected EPS of $1.10, with quarterly revenue reaching $369.40 million.
• The company has declared a quarterly dividend of $0.38 per share, scheduled to be paid on September 25th, with a notable annualized dividend yield of 0.8% and a payout ratio of 37.35%.

Woodline Partners LP acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 205,975 shares of the basic materials company's stock, valued at approximately $32,453,000. Woodline Partners LP owned 0.11% of Franco-Nevada as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CX Institutional bought a new stake in shares of Franco-Nevada during the first quarter worth approximately $30,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Franco-Nevada in the first quarter valued at approximately $32,000. Nexus Investment Management ULC acquired a new stake in shares of Franco-Nevada in the first quarter valued at approximately $35,000. Hexagon Capital Partners LLC raised its position in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company's stock valued at $36,000 after buying an additional 188 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company's stock valued at $36,000 after buying an additional 115 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

FNV has been the subject of a number of analyst reports. BMO Capital Markets reiterated an "outperform" rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. Royal Bank Of Canada lifted their price target on shares of Franco-Nevada from $160.00 to $190.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 4th. Raymond James Financial lifted their price target on shares of Franco-Nevada from $186.00 to $188.00 and gave the company an "outperform" rating in a research report on Tuesday, August 12th. Zacks Research downgraded shares of Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 20th. Finally, HC Wainwright lifted 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. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $178.88.

Franco-Nevada Price Performance

FNV traded down $1.14 during trading on Friday, hitting $200.71. 803,819 shares of the stock traded hands, compared to its average volume of 647,920. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $203.84. The company has a market cap of $38.68 billion, a price-to-earnings ratio of 49.31, a PEG ratio of 2.69 and a beta of 0.41. The business has a 50 day moving average price of $173.94 and a 200 day moving average price of $165.75.

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 EPS for the quarter, beating the consensus estimate 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 period in the previous year, the business earned $0.75 earnings per share. The company's revenue was up 42.0% on a year-over-year basis. On average, equities research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given 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 payout ratio is currently 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.