Tidal Investments LLC Acquires New Stake in Franco-Nevada Co. (NYSE:FNV)

Tidal Investments LLC acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 250,875 shares of the basic materials company’s stock, valued at approximately $29,500,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in Franco-Nevada by 2.3% in the 4th quarter. Van ECK Associates Corp now owns 8,538,788 shares of the basic materials company’s stock valued at $1,004,046,000 after buying an additional 193,968 shares during the last quarter. Capital World Investors grew its position in Franco-Nevada by 9.8% in the 4th quarter. Capital World Investors now owns 7,948,917 shares of the basic materials company’s stock valued at $934,106,000 after buying an additional 711,591 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Franco-Nevada by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 7,799,415 shares of the basic materials company’s stock worth $916,540,000 after purchasing an additional 132,465 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Franco-Nevada by 0.3% during the 4th quarter. Bank of Montreal Can now owns 5,300,880 shares of the basic materials company’s stock worth $622,124,000 after purchasing an additional 15,273 shares in the last quarter. Finally, EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 49.9% during the 4th quarter. EdgePoint Investment Group Inc. now owns 4,959,851 shares of the basic materials company’s stock worth $582,100,000 after purchasing an additional 1,650,358 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FNV has been the topic of several research analyst reports. National Bankshares restated a “sector perform” rating on shares of Franco-Nevada in a research report on Wednesday, April 23rd. HC Wainwright boosted their target price on shares of Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. TD Securities lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 target price on the stock. in a research report on Tuesday, March 11th. UBS Group boosted their target price on shares of Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Raymond James boosted their target price on shares of Franco-Nevada from $162.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, April 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Franco-Nevada has an average rating of “Moderate Buy” and a consensus price target of $162.75.

Franco-Nevada Stock Up 0.0%

Franco-Nevada stock opened at $159.08 on Friday. Franco-Nevada Co. has a 52 week low of $112.70 and a 52 week high of $178.74. The firm’s 50-day simple moving average is $160.40 and its 200 day simple moving average is $139.60. The firm has a market capitalization of $30.63 billion, a PE ratio of -50.34, a P/E/G ratio of 9.78 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Thursday, May 8th. The basic materials company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.00 by $0.07. Franco-Nevada had a negative net margin of 55.28% and a positive return on equity of 10.55%. The business had revenue of $368.40 million for the quarter, compared to analyst estimates of $328.79 million. During the same period in the previous year, the firm earned $0.76 EPS. The business’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, research analysts expect that Franco-Nevada Co. will post 3.09 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 26th. Investors of record on Thursday, June 12th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Thursday, June 12th. Franco-Nevada’s payout ratio is 47.50%.

Franco-Nevada Company 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.