Ritholtz Wealth Management Acquires Shares of 1,494 Franco-Nevada Corporation (NYSE:FNV)

Ritholtz Wealth Management acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,494 shares of the basic materials company’s stock, valued at approximately $235,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Tcfg Wealth Management LLC increased its position in Franco-Nevada by 3.4% during the 1st quarter. Tcfg Wealth Management LLC now owns 23,920 shares of the basic materials company’s stock valued at $3,769,000 after purchasing an additional 786 shares during the period. CX Institutional purchased a new stake in shares of Franco-Nevada in the 1st quarter worth about $30,000. Integrated Advisors Network LLC grew its position in shares of Franco-Nevada by 123.0% in the 1st quarter. Integrated Advisors Network LLC now owns 4,985 shares of the basic materials company’s stock worth $785,000 after buying an additional 2,750 shares during the period. SG Americas Securities LLC grew its position in shares of Franco-Nevada by 38.9% in the 1st quarter. SG Americas Securities LLC now owns 50,906 shares of the basic materials company’s stock worth $8,021,000 after buying an additional 14,263 shares during the period. Finally, Abacus Planning Group Inc. purchased a new stake in shares of Franco-Nevada in the 1st quarter worth about $209,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

FNV opened at $165.98 on Friday. The stock has a market capitalization of $31.98 billion, a P/E ratio of 51.87, a P/E/G ratio of 2.37 and a beta of 0.42. The company’s 50-day simple moving average is $168.08 and its two-hundred day simple moving average is $147.38. 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 posted its earnings results on Thursday, May 8th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.07. The business had revenue of $368.40 million for the quarter, compared to analysts’ expectations of $328.79 million. Franco-Nevada had a net margin of 50.39% and a return on equity of 11.40%. The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.76 EPS. Research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Shareholders of record on Thursday, June 12th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, June 12th. Franco-Nevada’s dividend payout ratio is currently 47.50%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FNV shares. Scotiabank upped their target price on shares of Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. UBS Group upped their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. Finally, Raymond James Financial set a $186.00 price objective on shares of 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 eight have assigned a buy rating to the stock. According to MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.63.

About Franco-Nevada

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.