Cardinal Point Capital Management ULC Takes Position in Franco-Nevada Corporation $FNV

Cardinal Point Capital Management ULC purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 1,760 shares of the basic materials company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. boosted its holdings in shares of Franco-Nevada by 1,583.3% in the first quarter. Bessemer Group Inc. now owns 13,130 shares of the basic materials company’s stock valued at $2,067,000 after buying an additional 12,350 shares during the period. St. James Investment Company LLC boosted its holdings in shares of Franco-Nevada by 29.3% in the first quarter. St. James Investment Company LLC now owns 219,988 shares of the basic materials company’s stock valued at $34,661,000 after buying an additional 49,907 shares during the period. Envestnet Asset Management Inc. boosted its holdings in shares of Franco-Nevada by 36.1% in the first quarter. Envestnet Asset Management Inc. now owns 58,388 shares of the basic materials company’s stock valued at $9,200,000 after buying an additional 15,483 shares during the period. FORA Capital LLC boosted its holdings in shares of Franco-Nevada by 169.8% in the first quarter. FORA Capital LLC now owns 5,342 shares of the basic materials company’s stock valued at $842,000 after buying an additional 3,362 shares during the period. Finally, D.A. Davidson & CO. acquired a new position in shares of Franco-Nevada in the first quarter valued at approximately $265,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.7%

NYSE FNV opened at $190.04 on Friday. The firm’s fifty day moving average price is $200.86 and its two-hundred day moving average price is $177.83. Franco-Nevada Corporation has a 1 year low of $112.70 and a 1 year high of $225.63. The firm has a market capitalization of $36.62 billion, a P/E ratio of 46.69, a price-to-earnings-growth ratio of 1.77 and a beta of 0.42.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.14. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same period in the prior year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 42.0% compared to the same quarter last year. On average, research analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. Scotiabank upped their price target on shares of Franco-Nevada from $184.00 to $225.00 and gave the company a “sector perform” rating in a report on Thursday. TD Securities boosted their price objective on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a “hold” rating in a research report on Tuesday, August 12th. CIBC reissued an “outperform” rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Finally, UBS Group boosted their price objective on shares of Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $216.14.

Franco-Nevada 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.