Franco-Nevada Corporation $FNV Stock Holdings Boosted by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,086,420 shares of the basic materials company’s stock after purchasing an additional 241,081 shares during the quarter. Vanguard Group Inc. owned about 4.20% of Franco-Nevada worth $1,327,612,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FNV. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada in the second quarter valued at approximately $32,000. Golden State Wealth Management LLC raised its stake in Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 90 shares in the last quarter. CENTRAL TRUST Co boosted its position in Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 195 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of Franco-Nevada in the second quarter worth $57,000. Finally, Kiker Wealth Management LLC increased its holdings in shares of Franco-Nevada by 20.5% during the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after purchasing an additional 80 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FNV. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. HC Wainwright boosted their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Scotiabank upped their target price on Franco-Nevada from $184.00 to $225.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Finally, Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price of $223.43.

Franco-Nevada Price Performance

NYSE FNV opened at $191.15 on Friday. Franco-Nevada Corporation has a 12 month low of $114.81 and a 12 month high of $225.63. The company has a market capitalization of $36.85 billion, a P/E ratio of 46.97, a PEG ratio of 1.70 and a beta of 0.40. The company’s 50 day simple moving average is $201.95 and its 200 day simple moving average is $181.47.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $487.70 million for the quarter, compared to analyst estimates of $448.51 million. During the same quarter in the previous year, the business posted $0.80 earnings per share. The firm’s quarterly revenue was up 76.9% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s dividend payout ratio is currently 31.87%.

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.