Tucker Asset Management LLC Purchases New Position in Franco-Nevada Co. (NYSE:FNV)

Tucker Asset Management LLC acquired a new position in Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,086 shares of the basic materials company’s stock, valued at approximately $342,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. VisionPoint Advisory Group LLC bought a new position in shares of Franco-Nevada during the 3rd quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV bought a new position in shares of Franco-Nevada during the 4th quarter valued at approximately $34,000. Allworth Financial LP boosted its position in shares of Franco-Nevada by 5,750.0% during the 4th quarter. Allworth Financial LP now owns 351 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 345 shares during the last quarter. Fortis Group Advisors LLC boosted its position in shares of Franco-Nevada by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 176 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Franco-Nevada by 277.6% during the 4th quarter. Blue Trust Inc. now owns 589 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 433 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

FNV stock traded down $0.56 during midday trading on Friday, reaching $116.18. The company’s stock had a trading volume of 925,841 shares, compared to its average volume of 557,162. The stock has a fifty day simple moving average of $122.31 and a two-hundred day simple moving average of $114.78. Franco-Nevada Co. has a 1 year low of $102.29 and a 1 year high of $149.06. The firm has a market capitalization of $22.34 billion, a price-to-earnings ratio of -46.66, a PEG ratio of 26.31 and a beta of 0.77.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Wednesday, May 1st. The basic materials company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.08. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. During the same quarter last year, the firm posted $0.79 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. As a group, analysts forecast that Franco-Nevada Co. will post 3.19 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, June 13th. Franco-Nevada’s payout ratio is -57.83%.

Analysts Set New Price Targets

A number of research analysts have recently commented on FNV shares. TheStreet downgraded Franco-Nevada from a “c+” rating to a “d+” rating in a research report on Tuesday, March 5th. Raymond James increased their target price on Franco-Nevada from $138.00 to $141.00 and gave the company an “outperform” rating in a research report on Thursday, April 11th. Bank of America lowered their target price on Franco-Nevada from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Monday, March 18th. HC Wainwright increased their price target on Franco-Nevada from $175.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 6th. Finally, Jefferies Financial Group increased their price target on Franco-Nevada from $117.00 to $129.00 and gave the company a “hold” rating in a report on Monday, April 22nd. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $148.70.

Franco-Nevada Company 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.