Russell Investments Group Ltd. Boosts Stock Position in Franco-Nevada Corporation $FNV

Russell Investments Group Ltd. grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 19.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,422 shares of the basic materials company’s stock after buying an additional 14,876 shares during the period. Russell Investments Group Ltd.’s holdings in Franco-Nevada were worth $14,535,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. HighTower Advisors LLC raised its stake in shares of Franco-Nevada by 19.4% during the 1st quarter. HighTower Advisors LLC now owns 81,720 shares of the basic materials company’s stock worth $12,876,000 after acquiring an additional 13,287 shares in the last quarter. Sustainable Insight Capital Management LLC increased its position in shares of Franco-Nevada by 20.6% during the first quarter. Sustainable Insight Capital Management LLC now owns 4,530 shares of the basic materials company’s stock worth $713,000 after purchasing an additional 775 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Franco-Nevada by 0.5% during the 1st quarter. Public Sector Pension Investment Board now owns 18,550 shares of the basic materials company’s stock valued at $2,917,000 after purchasing an additional 100 shares during the last quarter. Independent Advisor Alliance boosted its position in shares of Franco-Nevada by 26.2% in the 1st quarter. Independent Advisor Alliance now owns 4,188 shares of the basic materials company’s stock worth $660,000 after purchasing an additional 870 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Franco-Nevada during the 1st quarter worth $31,852,000. 77.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group increased their price target on Franco-Nevada from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, July 3rd. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research note on Tuesday, July 15th. National Bankshares reaffirmed a “sector perform” rating on shares of Franco-Nevada in a report on Tuesday, June 24th. BMO Capital Markets reissued an “outperform” rating on shares of Franco-Nevada in a report on Wednesday, May 28th. Finally, HC Wainwright raised their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, August 12th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $178.88.

Franco-Nevada Stock Performance

NYSE:FNV opened at $177.02 on Monday. The firm’s fifty day moving average is $165.02 and its two-hundred day moving average is $159.19. The firm has a market cap of $34.11 billion, a price-to-earnings ratio of 43.49, a PEG ratio of 2.36 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $112.70 and a one year high of $180.98.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.14. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%. The business had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. As a group, equities research analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Thursday, September 11th. Franco-Nevada’s dividend payout ratio is currently 37.35%.

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.