Mackenzie Financial Corp Has $276.22 Million Holdings in Franco-Nevada Corporation (NYSE:FNV)

Mackenzie Financial Corp boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 16.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,756,344 shares of the basic materials company’s stock after purchasing an additional 242,196 shares during the quarter. Mackenzie Financial Corp’s holdings in Franco-Nevada were worth $276,224,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new stake in Franco-Nevada during the 1st quarter worth about $30,000. Cullen Frost Bankers Inc. acquired a new position in Franco-Nevada during the first quarter valued at $32,000. Nexus Investment Management ULC acquired a new position in Franco-Nevada during the first quarter valued at $35,000. Hexagon Capital Partners LLC raised its position 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 valued at $36,000 after buying an additional 188 shares during the period. Finally, Golden State Wealth Management LLC raised its position 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 valued at $36,000 after buying an additional 115 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FNV shares. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. Wall Street Zen raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, April 7th. Royal Bank Of Canada upped their price target on Franco-Nevada from $160.00 to $190.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 4th. Scotiabank upped their price target on Franco-Nevada from $165.00 to $169.00 and gave the company a “sector perform” rating in a research report on Monday, May 12th. Finally, Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $172.13.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $163.01 on Monday. The stock has a market cap of $31.40 billion, a price-to-earnings ratio of 50.94, a PEG ratio of 2.17 and a beta of 0.41. The business has a 50 day simple moving average of $164.96 and a 200 day simple moving average of $154.91. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $179.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million during the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a return on equity of 11.40% and a net margin of 50.39%. The firm’s quarterly revenue was up 43.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 EPS. On average, analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, June 12th. This represents a $1.52 annualized dividend and a dividend yield of 0.93%. Franco-Nevada’s dividend payout ratio (DPR) is presently 47.50%.

Franco-Nevada 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.