Evelyn Partners Investment Management Services Ltd Has $10.52 Million Position in Franco-Nevada Corporation $FNV

Evelyn Partners Investment Management Services Ltd increased its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.8% during the 1st quarter, HoldingsChannel reports. The firm owned 42,546 shares of the basic materials company’s stock after purchasing an additional 2,697 shares during the period. Franco-Nevada comprises approximately 1.2% of Evelyn Partners Investment Management Services Ltd’s holdings, making the stock its 23rd largest holding. Evelyn Partners Investment Management Services Ltd’s holdings in Franco-Nevada were worth $10,518,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of FNV. Addenda Capital Inc. increased its position in shares of Franco-Nevada by 88.1% during the fourth quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock worth $42,211,000 after acquiring an additional 95,405 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in Franco-Nevada in the 4th quarter valued at $489,000. Scharf Investments LLC lifted its position in Franco-Nevada by 15.8% in the 4th quarter. Scharf Investments LLC now owns 692,209 shares of the basic materials company’s stock valued at $143,484,000 after acquiring an additional 94,465 shares in the last quarter. PKO Investment Management Joint Stock Co boosted its stake in Franco-Nevada by 11.4% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after purchasing an additional 7,150 shares during the period. Finally, Annex Advisory Services LLC boosted its stake in Franco-Nevada by 4.9% in the 4th quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock worth $41,450,000 after purchasing an additional 9,336 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $214.25 on Tuesday. The company has a market cap of $41.32 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.81 and a beta of 0.36. The firm has a 50-day moving average of $215.85 and a 200-day moving average of $236.63. Franco-Nevada Corporation has a one year low of $157.18 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its 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. 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 quarter in the previous year, the business earned $1.07 earnings per share. Franco-Nevada’s quarterly revenue was up 76.6% on a year-over-year basis. 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 business also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is currently 24.79%.

Analysts Set New Price Targets

FNV has been the topic of several recent research reports. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their price objective 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. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Finally, TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their target price for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.