Swiss National Bank Buys 37,600 Shares of Franco-Nevada Corporation $FNV

Swiss National Bank boosted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.9% in the second quarter, Holdings Channel.com reports. The firm owned 585,360 shares of the basic materials company’s stock after acquiring an additional 37,600 shares during the period. Swiss National Bank’s holdings in Franco-Nevada were worth $95,734,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FNV shares. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 22nd. Bank of America upped their price target on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research report on Thursday, October 16th. UBS Group lifted their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. TD Securities lowered their price objective on shares of Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research note on Wednesday, November 5th. Finally, Raymond James Financial raised their target price on shares of Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Two research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $223.43.

Franco-Nevada Stock Up 0.6%

Franco-Nevada stock opened at $191.15 on Friday. The company’s 50-day moving average price is $201.95 and its two-hundred day moving average price is $181.47. The stock has a market cap of $36.85 billion, a P/E ratio of 46.97, a P/E/G ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a twelve month low of $114.81 and a twelve month high of $225.63.

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

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, December 4th. Franco-Nevada’s dividend payout ratio (DPR) is 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.