Paloma Partners Management Co Acquires Shares of 3,743 Franco-Nevada Co. (NYSE:FNV)

Paloma Partners Management Co acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 3,743 shares of the basic materials company’s stock, valued at approximately $446,000.

Other institutional investors have also recently bought and sold shares of the company. Scotia Capital Inc. lifted its position in shares of Franco-Nevada by 27.1% during the 4th quarter. Scotia Capital Inc. now owns 149,153 shares of the basic materials company’s stock valued at $16,474,000 after buying an additional 31,796 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Franco-Nevada by 108.1% during the 4th quarter. Allianz Asset Management GmbH now owns 455,239 shares of the basic materials company’s stock worth $50,671,000 after purchasing an additional 236,503 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in Franco-Nevada by 2.3% during the 4th quarter. Alberta Investment Management Corp now owns 447,633 shares of the basic materials company’s stock worth $49,825,000 after purchasing an additional 10,250 shares in the last quarter. Bornite Capital Management LP purchased a new stake in Franco-Nevada during the 4th quarter worth about $8,167,000. Finally, Mackenzie Financial Corp lifted its holdings in Franco-Nevada by 15.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,472,264 shares of the basic materials company’s stock worth $163,156,000 after purchasing an additional 198,144 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FNV. Jefferies Financial Group increased their price objective on Franco-Nevada from $129.00 to $133.00 and gave the stock a “hold” rating in a report on Friday, July 12th. Raymond James increased their price objective on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Scotiabank increased their price objective on Franco-Nevada from $140.00 to $141.00 and gave the company a “sector perform” rating in a research report on Thursday, May 23rd. HC Wainwright increased their price objective on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Bank of America increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of “Hold” and an average target price of $152.33.

Franco-Nevada Trading Up 1.0 %

NYSE FNV traded up $1.24 on Monday, hitting $125.88. The company’s stock had a trading volume of 384,330 shares, compared to its average volume of 665,391. Franco-Nevada Co. has a 52-week low of $102.29 and a 52-week high of $147.35. The company’s 50-day simple moving average is $122.11 and its 200 day simple moving average is $117.55. The firm has a market cap of $24.22 billion, a P/E ratio of -50.55, a PEG ratio of 20.73 and a beta of 0.74.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business had revenue of $256.80 million during the quarter, compared to analysts’ expectations of $250.50 million. During the same quarter last year, the business posted $0.79 EPS. The business’s revenue was down 7.1% on a year-over-year basis. On average, research analysts forecast that Franco-Nevada Co. will post 3.27 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, June 13th. Franco-Nevada’s payout ratio is presently -57.83%.

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.