Markel Group Inc. boosted its stake in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 1.7% in the third quarter, Holdings Channel reports. The institutional investor owned 787,000 shares of the basic materials company’s stock after acquiring an additional 13,500 shares during the period. Franco-Nevada accounts for 1.5% of Markel Group Inc.’s holdings, making the stock its 17th biggest position. Markel Group Inc.’s holdings in Franco-Nevada were worth $187,393,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Silicon Valley Capital Partners purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $31,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Franco-Nevada during the 3rd quarter worth $36,000. Ascentis Independent Advisors purchased a new stake in shares of Franco-Nevada during the 1st quarter worth $39,000. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada during the 2nd quarter worth $33,000. Finally, Global Retirement Partners LLC bought a new stake in Franco-Nevada during the second quarter valued at about $35,000. Institutional investors own 77.06% of the company’s stock.
Franco-Nevada Trading Down 1.5%
Shares of FNV stock opened at $225.94 on Wednesday. Franco-Nevada Corporation has a 12-month low of $181.95 and a 12-month high of $285.67. The business’s fifty day simple moving average is $250.07 and its 200-day simple moving average is $240.01. The company has a market cap of $43.58 billion, a PE ratio of 29.53, a PEG ratio of 2.66 and a beta of 0.34.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. The business had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same period in the previous year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 57.3% compared to the same quarter last year. On average, equities analysts forecast that Franco-Nevada Corporation will post 7.39 earnings per share for the current year.
Franco-Nevada Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th were issued a dividend of $0.44 per share. The ex-dividend date was Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is 23.01%.
Analyst Ratings Changes
Several research firms have issued reports on FNV. Royal Bank Of Canada lifted their target price on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Weiss Ratings upgraded shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Bank of America decreased their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Finally, Scotiabank cut their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.30.
Check Out Our Latest Analysis on FNV
Franco-Nevada Profile
Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.
The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.
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