Quantinno Capital Management LP Buys 5,146 Shares of Franco-Nevada Corporation $FNV

Quantinno Capital Management LP increased its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 15.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,028 shares of the basic materials company’s stock after purchasing an additional 5,146 shares during the quarter. Quantinno Capital Management LP’s holdings in Franco-Nevada were worth $9,395,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FNV. Norges Bank purchased a new stake in Franco-Nevada during the 4th quarter worth about $578,577,000. First Eagle Investment Management LLC grew its holdings 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 valued at $1,062,037,000 after buying an additional 1,074,257 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Franco-Nevada by 12.8% during the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after buying an additional 842,132 shares during the period. Capital Research Global Investors lifted its holdings in shares of Franco-Nevada by 100.2% in the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after buying an additional 639,493 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Franco-Nevada by 30.7% in the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after buying an additional 443,839 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 2.0%

Shares of NYSE FNV opened at $218.95 on Wednesday. The business has a 50-day moving average of $214.63 and a 200-day moving average of $236.03. The firm has a market capitalization of $42.23 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 1.81 and a beta of 0.35. Franco-Nevada Corporation has a 12 month low of $164.90 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, beating 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 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 firm posted $1.07 earnings per share. Franco-Nevada’s quarterly revenue was up 76.6% on a year-over-year basis. On average, analysts predict that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend 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 presently 24.79%.

Wall Street Analyst Weigh In

FNV has been the subject of a number of analyst reports. Scotiabank cut their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Bank of America lowered their target price 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. Zacks Research downgraded shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Finally, Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Eleven equities 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

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.