Y Intercept Hong Kong Ltd Purchases Shares of 17,048 Franco-Nevada Corporation $FNV

Y Intercept Hong Kong Ltd purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 17,048 shares of the basic materials company’s stock, valued at approximately $2,795,000.

A number of other large investors have also recently bought and sold shares of the stock. SBI Securities Co. Ltd. grew its position in Franco-Nevada by 10.3% in the first quarter. SBI Securities Co. Ltd. now owns 683 shares of the basic materials company’s stock valued at $108,000 after acquiring an additional 64 shares during the period. Beacon Financial Group grew its position in Franco-Nevada by 1.0% during the 2nd quarter. Beacon Financial Group now owns 7,169 shares of the basic materials company’s stock worth $1,175,000 after acquiring an additional 72 shares during the last quarter. Kiker Wealth Management LLC grew its position in Franco-Nevada by 20.5% during the 2nd quarter. Kiker Wealth Management LLC now owns 471 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 80 shares during the last quarter. Physician Wealth Advisors Inc. grew its position in Franco-Nevada by 22.7% during the 2nd quarter. Physician Wealth Advisors Inc. now owns 513 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 95 shares during the last quarter. Finally, Blue Trust Inc. grew its position in Franco-Nevada by 10.9% during the 2nd quarter. Blue Trust Inc. now owns 973 shares of the basic materials company’s stock worth $160,000 after acquiring an additional 96 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Up 1.3%

Shares of FNV stock opened at $188.93 on Friday. The stock has a 50-day moving average price of $201.60 and a 200 day moving average price of $178.92. The firm has a market cap of $36.41 billion, a price-to-earnings ratio of 46.42, a PEG ratio of 1.70 and a beta of 0.42. Franco-Nevada Corporation has a 12 month low of $112.70 and a 12 month high of $225.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, beating 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 firm had revenue of $369.40 million for the quarter, compared to analyst estimates of $382.70 million. During the same quarter in the prior year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 42.0% on a year-over-year basis. Sell-side analysts predict that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have recently commented on FNV. CIBC restated an “outperform” rating on shares of Franco-Nevada in a report on Tuesday, July 15th. UBS Group increased their target price on Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday, October 16th. Zacks Research upgraded Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, October 17th. HC Wainwright increased their target price on Franco-Nevada from $195.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, August 12th. Finally, Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and an average target price 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.