NFJ Investment Group LLC Buys New Position in Franco-Nevada Corporation $FNV

NFJ Investment Group LLC bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,294 shares of the basic materials company’s stock, valued at approximately $687,000.

A number of other institutional investors also recently made changes to their positions in FNV. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter valued at approximately $25,000. Private Trust Co. NA acquired a new stake in Franco-Nevada in the fourth quarter worth approximately $29,000. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. Navalign LLC bought a new position in Franco-Nevada during the 4th quarter valued at $34,000. Finally, Global Retirement Partners LLC acquired a new position in shares of Franco-Nevada during the 2nd quarter valued at $35,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FNV. TD raised 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. UBS Group lowered their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Royal Bank Of Canada cut their price target 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. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $265.78 on Friday. Franco-Nevada Corporation has a one year low of $180.32 and a one year high of $285.67. The stock has a fifty day moving average of $219.57 and a 200-day moving average of $235.05. The company has a market capitalization of $51.26 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35.

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

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s dividend payout ratio is currently 23.01%.

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.