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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FNV. CX Institutional acquired a new position in shares of Franco-Nevada during the first quarter worth about $30,000. Cullen Frost Bankers Inc. acquired a new position in shares of Franco-Nevada during the first quarter worth about $32,000. Nexus Investment Management ULC acquired a new position in shares of Franco-Nevada during the first quarter worth about $35,000. Golden State Wealth Management LLC lifted its stake in shares of 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 purchasing an additional 115 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of 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 purchasing an additional 188 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company's stock.

Franco-Nevada Price Performance

Shares of NYSE FNV traded up $4.22 during midday trading on Monday, hitting $204.62. 215,264 shares of the company's stock were exchanged, compared to its average volume of 815,957. The stock's 50 day moving average price is $173.94 and its 200-day moving average price is $165.92. The firm has a market cap of $39.43 billion, a P/E ratio of 50.27, a PEG ratio of 2.68 and a beta of 0.41. Franco-Nevada Corporation has a twelve month low of $112.70 and a twelve month high of $204.39.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The business's revenue was up 42.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. On average, analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a dividend of $0.38 per share. The ex-dividend date is Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Franco-Nevada's payout ratio is currently 37.35%.

Analyst Ratings Changes

FNV has been the topic of a number of recent research reports. National Bankshares restated a "sector perform" rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. Zacks Research cut Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 20th. HC Wainwright boosted their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a "buy" rating in a research note on Tuesday, August 12th. Finally, Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Friday, September 5th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $178.88.

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.