Centiva Capital LP Invests $1.79 Million in Franco-Nevada Corporation $FNV

Centiva Capital LP acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 8,035 shares of the basic materials company’s stock, valued at approximately $1,791,000.

Several other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in Franco-Nevada by 27.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 54 shares in the last quarter. Spire Wealth Management increased its position in Franco-Nevada by 13.4% in the third quarter. Spire Wealth Management now owns 475 shares of the basic materials company’s stock worth $106,000 after buying an additional 56 shares during the last quarter. Lafayette Investments Inc. increased its holdings in Franco-Nevada by 2.4% in the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of Franco-Nevada by 19.6% in the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company’s stock worth $97,000 after purchasing an additional 71 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in Franco-Nevada by 6.4% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,602 shares of the basic materials company’s stock valued at $357,000 after buying an additional 96 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FNV. Jefferies Financial Group reaffirmed a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $225.00 to $250.00 in a research report on Wednesday, December 10th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Finally, HC Wainwright raised their price objective on Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.88.

Franco-Nevada Stock Performance

NYSE:FNV opened at $251.45 on Friday. Franco-Nevada Corporation has a fifty-two week low of $140.03 and a fifty-two week high of $285.67. The firm has a market cap of $48.48 billion, a PE ratio of 43.65, a price-to-earnings-growth ratio of 3.33 and a beta of 0.45. The business has a 50 day moving average price of $250.76 and a 200-day moving average price of $219.55.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.67 by $0.18. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The company had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. During the same period in the previous year, the firm earned $0.95 earnings per share. The firm’s revenue for the quarter was up 86.1% on a year-over-year basis. Research analysts predict that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be issued a $0.44 dividend. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s payout ratio is 30.56%.

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.