Forsta AP Fonden Acquires 12,300 Shares of Franco-Nevada Corporation $FNV

Forsta AP Fonden grew its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 34.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,200 shares of the basic materials company's stock after acquiring an additional 12,300 shares during the period. Forsta AP Fonden's holdings in Franco-Nevada were worth $7,897,000 at the end of the most recent reporting period.

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Other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new position in Franco-Nevada during the 1st quarter valued at about $32,000. Golden State Wealth Management LLC increased its position in shares of Franco-Nevada by 78.3% in 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 lifted its position in Franco-Nevada by 590.9% during the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 195 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Franco-Nevada in the 2nd quarter worth $57,000. Finally, Kiker Wealth Management LLC raised its position in shares of Franco-Nevada by 20.5% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. TD Securities cut their target price on shares of Franco-Nevada from $247.00 to $225.00 and set a "hold" rating for the company in a research report on Wednesday, November 5th. Canaccord Genuity Group raised Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 22nd. Raymond James Financial upped their price objective on Franco-Nevada from $218.00 to $234.00 and gave the stock an "outperform" rating in a report on Friday, October 10th. Wall Street Zen raised Franco-Nevada from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Finally, HC Wainwright boosted their target price on Franco-Nevada from $200.00 to $210.00 and gave the stock a "buy" rating in a research report on Tuesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has an average rating of "Moderate Buy" and an average target price of $223.43.

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View Our Latest Research Report on FNV

Franco-Nevada Trading Down 1.6%

NYSE FNV opened at $196.69 on Friday. The firm has a market cap of $37.92 billion, a PE ratio of 48.33, a price-to-earnings-growth ratio of 1.70 and a beta of 0.40. Franco-Nevada Corporation has a 1-year low of $112.70 and a 1-year high of $225.63. The stock has a 50-day moving average of $202.45 and a 200-day moving average of $180.33.

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Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, topping 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 business had revenue of $487.70 million for the quarter, compared to analysts' expectations of $448.51 million. During the same period in the previous year, the firm earned $0.80 EPS. The business's quarterly revenue was up 76.9% on a year-over-year basis. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Thursday, December 4th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, December 4th. Franco-Nevada's dividend payout ratio is currently 31.87%.

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.

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