Wexford Capital LP Acquires New Position in Franco-Nevada Co. (NYSE:FNV)

Wexford Capital LP acquired a new stake in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,023 shares of the basic materials company’s stock, valued at approximately $826,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. grew its holdings in Franco-Nevada by 2.2% during the 4th quarter. Essex Financial Services Inc. now owns 3,892 shares of the basic materials company’s stock valued at $458,000 after buying an additional 84 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Franco-Nevada by 25.8% during the fourth quarter. Harbour Investments Inc. now owns 453 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 93 shares in the last quarter. Mutual Advisors LLC grew its holdings in shares of Franco-Nevada by 4.0% during the fourth quarter. Mutual Advisors LLC now owns 2,477 shares of the basic materials company’s stock worth $309,000 after purchasing an additional 96 shares in the last quarter. Sustainable Insight Capital Management LLC grew its holdings in shares of Franco-Nevada by 2.7% during the fourth quarter. Sustainable Insight Capital Management LLC now owns 3,755 shares of the basic materials company’s stock worth $441,000 after purchasing an additional 100 shares in the last quarter. Finally, Blossom Wealth Management grew its holdings in shares of Franco-Nevada by 3.9% during the fourth quarter. Blossom Wealth Management now owns 2,853 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 108 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 0.0%

FNV opened at $159.08 on Monday. The stock has a fifty day simple moving average of $160.40 and a two-hundred day simple moving average of $139.65. The company has a market cap of $30.63 billion, a price-to-earnings ratio of -50.34, a price-to-earnings-growth ratio of 9.78 and a beta of 0.45. Franco-Nevada Co. has a 12-month low of $112.70 and a 12-month high of $178.74.

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

Franco-Nevada Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on FNV shares. Scotiabank boosted their price objective on Franco-Nevada from $165.00 to $169.00 and gave the stock a “sector perform” rating in a report on Monday, May 12th. TD Securities lowered Franco-Nevada from a “buy” rating to a “hold” rating and set a $152.00 price objective for the company. in a report on Tuesday, March 11th. HC Wainwright boosted their price objective on Franco-Nevada from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, March 26th. UBS Group upped their target price on Franco-Nevada from $170.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Finally, Royal Bank of Canada upped their target price on Franco-Nevada from $145.00 to $155.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $162.75.

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.