Swiss National Bank boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 27.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 648,960 shares of the basic materials company’s stock after buying an additional 138,200 shares during the period. Swiss National Bank owned approximately 0.34% of Franco-Nevada worth $160,452,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of FNV. GAMMA Investing LLC boosted its holdings in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $25,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $29,000. Ascentis Independent Advisors bought a new stake in Franco-Nevada in the 1st quarter valued at $39,000. Finally, Navalign LLC bought a new stake in Franco-Nevada in the 4th quarter valued at $34,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on FNV. Jefferies Financial Group reduced their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Zacks Research cut Franco-Nevada from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $273.40.
Franco-Nevada Trading Up 0.0%
Shares of FNV opened at $200.81 on Monday. The stock has a market capitalization of $38.73 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 1.69 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $154.11 and a 12 month high of $285.67. The firm has a fifty day simple moving average of $218.63 and a 200 day simple moving average of $236.61.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same period in the previous year, the business earned $1.07 EPS. The company’s revenue was up 76.6% compared to the same quarter last year. As a group, research analysts predict that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.
Franco-Nevada Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.
Franco-Nevada Profile
Franco-Nevada Corporation is a Toronto-based royalty and streaming company that specializes in securing and managing long-term interests in mining properties. The firm focuses primarily on precious metals, particularly gold, while also holding interests related to silver, copper, platinum-group metals and select base metals. Rather than operating mines directly, Franco-Nevada acquires royalty and streaming agreements that entitle it to a percentage of production or revenue from producing and developing assets in exchange for upfront or staged financing.
The company’s business model centers on providing capital to mining companies in return for a sustained share of production or metal revenue, which can reduce exposure to operating and capital cost risks typical of mine operators.
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