6,458 Shares in Franco-Nevada Corporation $FNV Bought by Fielder Capital Group LLC

Fielder Capital Group LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,458 shares of the basic materials company’s stock, valued at approximately $1,346,000.

A number of other institutional investors also recently bought and sold shares of FNV. Vanguard Group Inc. increased its position in Franco-Nevada by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock valued at $1,726,741,000 after acquiring an additional 113,916 shares during the period. Van ECK Associates Corp lifted its position in Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after acquiring an additional 842,132 shares during the period. First Eagle Investment Management LLC lifted its position in Franco-Nevada by 26.5% during the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after acquiring an additional 1,074,257 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Franco-Nevada by 3.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after purchasing an additional 110,222 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Franco-Nevada by 10.2% in the 4th quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock valued at $582,177,000 after purchasing an additional 260,793 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FNV. Royal Bank Of Canada dropped their target price on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. HC Wainwright reiterated a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. Bank of America dropped their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $234.50 on Monday. Franco-Nevada Corporation has a one year low of $173.39 and a one year high of $285.67. The company has a market cap of $45.23 billion, a P/E ratio of 30.65, a price-to-earnings-growth ratio of 2.14 and a beta of 0.35. The business has a fifty day moving average of $215.69 and a two-hundred day moving average of $235.14.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. During the same quarter in the prior year, the business earned $1.24 EPS. The business’s revenue for the quarter was up 57.3% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada Corporation will post 7.6 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given 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 is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is presently 23.01%.

Franco-Nevada 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.