Westerkirk Capital Inc. Takes $1.77 Million Position in Franco-Nevada Corporation $FNV

Westerkirk Capital Inc. acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,780 shares of the basic materials company's stock, valued at approximately $1,767,000.

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A number of other institutional investors also recently bought and sold shares of the company. Cetera Investment Advisers grew its stake in shares of Franco-Nevada by 41.0% in the 1st quarter. Cetera Investment Advisers now owns 10,110 shares of the basic materials company's stock valued at $1,593,000 after buying an additional 2,939 shares during the period. Natixis Advisors LLC lifted its holdings in Franco-Nevada by 1.6% in the first quarter. Natixis Advisors LLC now owns 19,248 shares of the basic materials company's stock valued at $3,033,000 after acquiring an additional 303 shares during the last quarter. Harbour Investments Inc. grew its position in Franco-Nevada by 143.9% in the first quarter. Harbour Investments Inc. now owns 1,105 shares of the basic materials company's stock worth $174,000 after acquiring an additional 652 shares during the period. US Bancorp DE grew its position in Franco-Nevada by 1.0% in the first quarter. US Bancorp DE now owns 22,626 shares of the basic materials company's stock worth $3,565,000 after acquiring an additional 235 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Franco-Nevada by 10.2% during the first quarter. PNC Financial Services Group Inc. now owns 7,446 shares of the basic materials company's stock worth $1,173,000 after acquiring an additional 690 shares during the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on FNV shares. Zacks Research raised Franco-Nevada from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 17th. HC Wainwright boosted their price objective on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a "buy" rating in a report on Tuesday, November 4th. TD Securities lowered 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 note on Wednesday, November 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of Franco-Nevada in a research report on Tuesday, November 25th. Finally, Bank of America boosted their price target on shares of Franco-Nevada from $211.00 to $220.00 and gave the company a "neutral" rating in a research note on Thursday, October 16th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $224.86.

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Check Out Our Latest Stock Report on Franco-Nevada

Franco-Nevada Price Performance

NYSE FNV opened at $207.17 on Tuesday. The company has a market cap of $39.94 billion, a P/E ratio of 50.90, a P/E/G ratio of 1.70 and a beta of 0.40. The stock has a 50-day moving average of $201.87 and a two-hundred day moving average of $183.44. Franco-Nevada Corporation has a 1-year low of $114.81 and a 1-year high of $225.63.

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Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. During the same quarter last year, the firm posted $0.80 earnings per share. The business's revenue for the quarter was up 76.9% compared to the same quarter last year. On average, analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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 paid a $0.38 dividend. The ex-dividend date is Thursday, December 4th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Franco-Nevada's payout ratio is 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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