Quadrature Capital Ltd Purchases New Holdings in Franco-Nevada Corporation $FNV

Quadrature Capital Ltd acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 142,000 shares of the basic materials company’s stock, valued at approximately $23,197,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. MTM Investment Management LLC acquired a new stake in Franco-Nevada in the second quarter valued at $32,000. Golden State Wealth Management LLC lifted its position in shares of Franco-Nevada by 78.3% during the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 90 shares during the last quarter. CENTRAL TRUST Co grew its stake in Franco-Nevada by 590.9% in the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in Franco-Nevada in the second quarter valued at about $57,000. Finally, Kiker Wealth Management LLC increased its holdings in Franco-Nevada by 20.5% in the second quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock valued at $77,000 after buying an additional 80 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FNV has been the topic of a number of research analyst reports. HC Wainwright increased their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 17th. Bank of America lifted their price objective on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Franco-Nevada in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $223.43.

Franco-Nevada Trading Up 3.3%

NYSE FNV opened at $207.39 on Friday. The company has a 50-day moving average price of $202.10 and a two-hundred day moving average price of $182.38. Franco-Nevada Corporation has a 52 week low of $114.81 and a 52 week high of $225.63. The stock has a market cap of $39.98 billion, a price-to-earnings ratio of 50.96, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a return on equity of 12.56% and a net margin of 58.82%.The company had revenue of $487.70 million for the quarter, compared to analysts’ expectations of $448.51 million. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 76.9% compared to the same quarter last year. As a group, equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, December 4th. Franco-Nevada’s payout ratio is 31.87%.

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.