Duality Advisers LP Purchases 7,654 Shares of Franco-Nevada Co. (NYSE:FNV)

Duality Advisers LP increased its position in shares of Franco-Nevada Co. (NYSE:FNV) (TSE:FNV) by 33.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 30,558 shares of the basic materials company’s stock after purchasing an additional 7,654 shares during the period. Duality Advisers LP’s holdings in Franco-Nevada were worth $3,641,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC purchased a new position in shares of Franco-Nevada during the third quarter valued at approximately $30,000. Creative Financial Designs Inc. ADV bought a new position in Franco-Nevada in the 4th quarter valued at $34,000. Allworth Financial LP grew its position in Franco-Nevada by 5,750.0% in 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 increased its stake in Franco-Nevada by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 352 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 176 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of Franco-Nevada by 37.1% during the first quarter. Massmutual Trust Co. FSB ADV now owns 440 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 119 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Stock Performance

NYSE:FNV traded up $1.17 during midday trading on Friday, reaching $128.62. 230,877 shares of the stock traded hands, compared to its average volume of 681,364. The stock has a market capitalization of $24.75 billion, a PE ratio of -51.43, a price-to-earnings-growth ratio of 23.63 and a beta of 0.74. Franco-Nevada Co. has a 12-month low of $102.29 and a 12-month high of $149.06. The business has a 50-day moving average of $122.17 and a two-hundred day moving average of $116.10.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly 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. The business had revenue of $256.80 million for the quarter, compared to analyst estimates of $250.50 million. Franco-Nevada had a positive return on equity of 10.81% and a negative net margin of 39.88%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Research analysts anticipate that Franco-Nevada Co. will post 3.2 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders of record on Thursday, June 13th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 1.12%. Franco-Nevada’s payout ratio is currently -57.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FNV. Scotiabank upped their price target on shares of Franco-Nevada from $140.00 to $141.00 and gave the stock a “sector perform” rating in a report on Thursday, May 23rd. Bank of America upped their target price on shares of Franco-Nevada from $141.00 to $142.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group boosted their price target on Franco-Nevada from $129.00 to $133.00 and gave the company a “hold” rating in a report on Friday. Raymond James lifted 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. Finally, HC Wainwright increased their price target on Franco-Nevada from $175.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $152.33.

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.