LRT Capital Management LLC bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,118 shares of the basic materials company’s stock, valued at approximately $1,683,000. Franco-Nevada makes up approximately 1.4% of LRT Capital Management LLC’s holdings, making the stock its 25th largest holding.
Several other institutional investors also recently bought and sold shares of the stock. PFG Investments LLC raised its holdings in Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after buying an additional 46 shares in the last quarter. Composition Wealth LLC raised its holdings in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock valued at $1,266,000 after buying an additional 49 shares in the last quarter. Syon Capital LLC raised its holdings in Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after buying an additional 51 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Franco-Nevada by 27.6% during the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock valued at $55,000 after buying an additional 54 shares in the last quarter. Finally, Claret Asset Management Corp raised its holdings in Franco-Nevada by 3.4% during the fourth quarter. Claret Asset Management Corp now owns 1,669 shares of the basic materials company’s stock valued at $346,000 after buying an additional 55 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
FNV has been the topic of a number of recent analyst reports. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research note on Wednesday, May 20th. Finally, Scotiabank lifted their price objective on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $271.00.
Franco-Nevada Stock Performance
Franco-Nevada stock opened at $209.68 on Friday. The business’s 50-day simple moving average is $236.90 and its 200-day simple moving average is $235.86. The firm has a market capitalization of $40.44 billion, a PE ratio of 29.53, a PEG ratio of 1.82 and a beta of 0.34. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last released its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. During the same period last year, the business earned $1.07 earnings per share. The firm’s revenue for the quarter was up 76.6% compared to the same quarter last year. Research analysts forecast that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.
Franco-Nevada Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 24.79%.
Franco-Nevada Company 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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