Susquehanna Fundamental Investments LLC Boosts Stock Position in Franco-Nevada Co. (NYSE:FNV)

Susquehanna Fundamental Investments LLC raised its stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 33.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 15,024 shares of the basic materials company’s stock after purchasing an additional 3,724 shares during the quarter. Susquehanna Fundamental Investments LLC’s holdings in Franco-Nevada were worth $1,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FNV. Mechanics Financial Corp grew its position in Franco-Nevada by 150.0% in the 2nd quarter. Mechanics Financial Corp now owns 250 shares of the basic materials company’s stock valued at $30,000 after buying an additional 150 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Franco-Nevada in the second quarter valued at about $33,000. Kings Path Partners LLC acquired a new position in shares of Franco-Nevada during the second quarter worth about $36,000. Fortis Group Advisors LLC raised its holdings in Franco-Nevada by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 176 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its position in Franco-Nevada by 37.1% in the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 119 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of a number of analyst reports. StockNews.com raised Franco-Nevada from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Scotiabank increased their price objective on Franco-Nevada from $141.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Bank of America downgraded shares of Franco-Nevada from a “buy” rating to a “neutral” rating and cut their price target for the company from $142.00 to $139.00 in a report on Tuesday. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $152.38.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $125.07 on Wednesday. Franco-Nevada Co. has a fifty-two week low of $102.29 and a fifty-two week high of $142.60. The company has a market capitalization of $24.07 billion, a price-to-earnings ratio of -50.24, a PEG ratio of 21.28 and a beta of 0.76. The stock has a fifty day moving average of $123.54 and a two-hundred day moving average of $122.14.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 13th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.03). Franco-Nevada had a negative net margin of 51.64% and a positive return on equity of 10.56%. The firm had revenue of $260.10 million during the quarter, compared to analyst estimates of $277.44 million. During the same period in the previous year, the firm posted $0.95 EPS. The company’s revenue for the quarter was down 21.2% compared to the same quarter last year. On average, analysts forecast that Franco-Nevada Co. will post 3.23 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, September 12th were given a dividend of $0.36 per share. The ex-dividend date was Thursday, September 12th. This represents a $1.44 dividend on an annualized basis and a yield of 1.15%. Franco-Nevada’s dividend payout ratio (DPR) is currently -57.83%.

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.