Rathbones Group PLC Has $1.66 Million Position in Franco-Nevada Corporation $FNV

Rathbones Group PLC raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNVFree Report) (TSE:FNV) by 134.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,725 shares of the basic materials company’s stock after purchasing an additional 3,854 shares during the quarter. Rathbones Group PLC’s holdings in Franco-Nevada were worth $1,660,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of FNV. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter valued at $25,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada in the 4th quarter worth about $29,000. Smartleaf Asset Management LLC lifted its position in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. Navalign LLC acquired a new position in Franco-Nevada during the 4th quarter valued at about $34,000. Finally, Quattro Advisors LLC bought a new stake in Franco-Nevada during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of Franco-Nevada stock opened at $218.95 on Wednesday. The stock has a market capitalization of $42.23 billion, a P/E ratio of 30.84, a P/E/G ratio of 1.81 and a beta of 0.35. The stock’s 50-day simple moving average is $214.63 and its 200 day simple moving average is $236.03. Franco-Nevada Corporation has a 52-week low of $164.90 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNVGet Free Report) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping 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 company had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. During the same period last year, the firm earned $1.07 EPS. Franco-Nevada’s revenue for the quarter was up 76.6% on a year-over-year basis. Equities research analysts forecast that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FNV. Jefferies Financial Group dropped their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. HC Wainwright restated a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $273.40.

View Our Latest Research Report on Franco-Nevada

About Franco-Nevada

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Franco-Nevada (NYSE:FNV)

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