Tevis Investment Management Purchases 3,820 Shares of Franco-Nevada Corporation $FNV

Tevis Investment Management increased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 31.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,777 shares of the basic materials company’s stock after purchasing an additional 3,820 shares during the quarter. Franco-Nevada comprises about 1.7% of Tevis Investment Management’s holdings, making the stock its 17th largest position. Tevis Investment Management’s holdings in Franco-Nevada were worth $2,586,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new position in shares of Franco-Nevada in the first quarter valued at $32,000. Hexagon Capital Partners LLC grew its position in shares of Franco-Nevada by 494.7% in the first quarter. Hexagon Capital Partners LLC now owns 226 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 188 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Franco-Nevada by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 230 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 115 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Franco-Nevada in the second quarter valued at $57,000. Finally, Kiker Wealth Management LLC grew its position in shares of 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 purchasing an additional 80 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 3.2%

Franco-Nevada stock opened at $183.98 on Tuesday. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $225.63. The business has a 50-day simple moving average of $201.01 and a 200 day simple moving average of $178.51. The stock has a market cap of $35.45 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.76 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $382.70 million. During the same period in the previous year, the business earned $0.75 earnings per share. The firm’s revenue was up 42.0% on a year-over-year basis. On average, research analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Thursday, September 11th were paid a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, September 11th. This represents a $1.52 annualized dividend and a yield of 0.8%. Franco-Nevada’s payout ratio is 37.35%.

Analyst Ratings Changes

Several brokerages have recently weighed in on FNV. Raymond James Financial lifted their price target on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. TD Securities lifted their price target on Franco-Nevada from $182.00 to $184.00 and gave the company a “hold” rating in a research report on Tuesday, August 12th. CIBC reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 17th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $216.14.

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.