Public Employees Retirement System of Ohio Acquires 12,137 Shares of Franco-Nevada Corporation $FNV

Public Employees Retirement System of Ohio lifted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 12.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,326 shares of the basic materials company’s stock after purchasing an additional 12,137 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of Franco-Nevada worth $27,477,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. PFG Investments LLC lifted its stake in shares of Franco-Nevada by 0.6% in the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after purchasing an additional 46 shares during the last quarter. Composition Wealth LLC increased its position 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 worth $1,266,000 after buying an additional 49 shares during the last quarter. Clark Capital Management Group Inc. increased its position in Franco-Nevada by 1.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 50 shares during the last quarter. Syon Capital LLC increased its position 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 worth $506,000 after buying an additional 51 shares during the last quarter. Finally, Guardian Partners Inc. raised its holdings in Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after buying an additional 52 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $215.06 on Friday. The firm has a market cap of $41.48 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 1.81 and a beta of 0.36. Franco-Nevada Corporation has a fifty-two week low of $157.18 and a fifty-two week high of $285.67. The firm has a fifty day moving average price of $216.08 and a two-hundred day moving average price of $236.49.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, sell-side analysts expect that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on FNV shares. Jefferies Financial Group reduced their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and reduced their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Zacks Research lowered Franco-Nevada from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

About Franco-Nevada

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.