Cerity Partners LLC Raises Holdings in Franco-Nevada Corporation (NYSE:FNV)

Cerity Partners LLC grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 393.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,812 shares of the basic materials company’s stock after buying an additional 8,623 shares during the quarter. Cerity Partners LLC’s holdings in Franco-Nevada were worth $1,703,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. CX Institutional bought a new position in shares of Franco-Nevada in the 1st quarter worth $30,000. Nexus Investment Management ULC bought a new position in shares of Franco-Nevada in the 1st quarter worth $35,000. Golden State Wealth Management LLC raised its position in shares of Franco-Nevada by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 115 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Franco-Nevada by 494.7% in the 1st quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 188 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Franco-Nevada in the 4th quarter worth $49,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on FNV shares. Raymond James Financial set a $186.00 price target on Franco-Nevada and gave the stock an “outperform” rating in a research report on Wednesday, May 28th. BMO Capital Markets reissued an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, May 28th. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a research report on Tuesday, June 24th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Finally, Scotiabank boosted their price target on Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $172.13.

Franco-Nevada Stock Down 0.1%

Shares of NYSE:FNV opened at $154.40 on Monday. Franco-Nevada Corporation has a 52-week low of $112.70 and a 52-week high of $179.99. The stock has a market cap of $29.75 billion, a price-to-earnings ratio of 48.25, a PEG ratio of 2.08 and a beta of 0.41. The business has a 50-day moving average price of $164.67 and a 200-day moving average price of $153.63.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Thursday, June 12th. Franco-Nevada’s payout ratio is 47.50%.

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.