Tidal Investments LLC Takes Position in Franco-Nevada Co. (NYSE:FNV)

Tidal Investments LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 250,875 shares of the basic materials company’s stock, valued at approximately $29,500,000. Tidal Investments LLC owned 0.13% of Franco-Nevada as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in FNV. Barclays PLC boosted its stake in shares of Franco-Nevada by 29.4% in the third quarter. Barclays PLC now owns 35,828 shares of the basic materials company’s stock valued at $4,450,000 after purchasing an additional 8,147 shares during the period. Assenagon Asset Management S.A. lifted its stake in Franco-Nevada by 2.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 7,528 shares of the basic materials company’s stock worth $884,000 after acquiring an additional 203 shares during the last quarter. Annex Advisory Services LLC lifted its stake in Franco-Nevada by 24.7% in the fourth quarter. Annex Advisory Services LLC now owns 159,404 shares of the basic materials company’s stock worth $18,744,000 after acquiring an additional 31,547 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Franco-Nevada by 3.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 9,387 shares of the basic materials company’s stock worth $1,104,000 after acquiring an additional 326 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Franco-Nevada by 3.3% in the fourth quarter. SG Americas Securities LLC now owns 36,643 shares of the basic materials company’s stock worth $4,309,000 after acquiring an additional 1,168 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FNV shares. Raymond James lifted their price target on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research note on Friday, April 4th. BMO Capital Markets started coverage on shares of Franco-Nevada in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. Royal Bank of Canada lifted their price target on shares of Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. HC Wainwright raised their price objective on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. Finally, UBS Group raised their price objective on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.75.

Franco-Nevada Trading Up 0.0%

FNV stock opened at $159.08 on Friday. Franco-Nevada Co. has a twelve month low of $112.70 and a twelve month high of $178.74. The company’s 50 day moving average is $160.40 and its two-hundred day moving average is $139.60. The stock has a market cap of $30.63 billion, a P/E ratio of -50.34, a PEG ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates 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 negative net margin of 55.28% and a positive return on equity of 10.55%. The company’s quarterly revenue was up 43.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, equities research analysts predict that Franco-Nevada Co. will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Thursday, June 12th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.96%. 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.