Franco-Nevada Corporation $FNV Shares Purchased by Cidel Asset Management Inc.

Cidel Asset Management Inc. grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 10.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,622 shares of the basic materials company’s stock after purchasing an additional 248 shares during the quarter. Cidel Asset Management Inc.’s holdings in Franco-Nevada were worth $430,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FNV. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Franco-Nevada by 21.7% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 13,977 shares of the basic materials company’s stock valued at $2,202,000 after acquiring an additional 2,493 shares in the last quarter. Blue Trust Inc. boosted its position in Franco-Nevada by 5,746.7% in the first quarter. Blue Trust Inc. now owns 877 shares of the basic materials company’s stock valued at $138,000 after buying an additional 862 shares during the last quarter. PFG Investments LLC boosted its position in Franco-Nevada by 2.8% in the first quarter. PFG Investments LLC now owns 6,943 shares of the basic materials company’s stock valued at $1,094,000 after buying an additional 189 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Franco-Nevada by 9.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 13,789 shares of the basic materials company’s stock valued at $2,173,000 after buying an additional 1,176 shares during the last quarter. Finally, Spire Wealth Management boosted its position in Franco-Nevada by 13.1% in the first quarter. Spire Wealth Management now owns 3,431 shares of the basic materials company’s stock valued at $541,000 after buying an additional 398 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of recent research reports. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 2nd. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Scotiabank upped their target price on Franco-Nevada from $182.00 to $184.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 12th. UBS Group upped their target price on Franco-Nevada from $250.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday. Finally, HC Wainwright upped their price objective on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $210.29.

Franco-Nevada Trading Down 5.3%

Franco-Nevada stock opened at $203.81 on Monday. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $225.63. The stock’s 50 day simple moving average is $199.22 and its two-hundred day simple moving average is $176.57. The firm has a market cap of $39.28 billion, a PE ratio of 50.08, a P/E/G ratio of 1.91 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the prior year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, equities research analysts forecast that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 11th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is 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.