Groupe la Francaise grew its position in Franco-Nevada Corporation (NYSE:FNV – Free Report) (TSE:FNV) by 98.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,000 shares of the basic materials company’s stock after purchasing an additional 77,000 shares during the quarter. Groupe la Francaise’s holdings in Franco-Nevada were worth $38,253,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in FNV. AQR Capital Management LLC acquired a new stake in Franco-Nevada during the 1st quarter worth approximately $241,000. NewEdge Advisors LLC grew its holdings in Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock valued at $1,038,000 after buying an additional 943 shares in the last quarter. Intech Investment Management LLC grew its holdings in Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock valued at $1,460,000 after buying an additional 5,032 shares in the last quarter. Acadian Asset Management LLC increased its position in Franco-Nevada by 800.0% during the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock worth $424,000 after buying an additional 2,400 shares during the period. Finally, Marshall Wace LLP bought a new position in Franco-Nevada during the 2nd quarter worth $1,477,000. Institutional investors own 77.06% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on FNV shares. Zacks Research cut shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Royal Bank Of Canada cut their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.40.
Franco-Nevada Stock Up 3.2%
FNV stock opened at $221.19 on Friday. Franco-Nevada Corporation has a 52 week low of $158.26 and a 52 week high of $285.67. The business has a 50-day simple moving average of $215.30 and a 200 day simple moving average of $236.45. The company has a market cap of $42.66 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36.
Franco-Nevada (NYSE:FNV – Get Free Report) (TSE:FNV) last announced its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $634.43 million. During the same period in the prior year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 76.6% on a year-over-year basis. On average, analysts anticipate that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.
Franco-Nevada Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. 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 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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