Clare Market Investments LLC Invests $760,000 in Franco-Nevada Corporation $FNV

Clare Market Investments LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,635 shares of the basic materials company’s stock, valued at approximately $760,000.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in shares of Franco-Nevada by 1,583.3% during the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock worth $2,067,000 after buying an additional 12,350 shares in the last quarter. St. James Investment Company LLC increased its holdings in shares of Franco-Nevada by 29.3% during the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company’s stock worth $34,661,000 after buying an additional 49,907 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Franco-Nevada by 36.1% during the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock worth $9,200,000 after buying an additional 15,483 shares in the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Franco-Nevada during the first quarter worth approximately $265,000. Finally, FORA Capital LLC increased its holdings in shares of Franco-Nevada by 169.8% during the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock worth $842,000 after buying an additional 3,362 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FNV. National Bankshares reissued a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, September 5th. HC Wainwright raised their price target on shares of Franco-Nevada from $195.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, August 12th. Finally, TD Securities raised their price target on shares of Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a report on Tuesday, August 12th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $178.88.

Franco-Nevada Stock Performance

FNV opened at $202.61 on Friday. The company has a fifty day moving average price of $177.28 and a two-hundred day moving average price of $167.25. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $204.92. The firm has a market capitalization of $39.04 billion, a PE ratio of 49.78, a P/E/G ratio of 2.64 and a beta of 0.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $369.40 million during the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the previous year, the business earned $0.75 EPS. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 11th. Franco-Nevada’s dividend payout ratio (DPR) is currently 37.35%.

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.