CWA Asset Management Group LLC Purchases 67,909 Shares of Franco-Nevada Corporation $FNV

CWA Asset Management Group LLC boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 87.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 145,457 shares of the basic materials company’s stock after buying an additional 67,909 shares during the period. Franco-Nevada makes up about 1.2% of CWA Asset Management Group LLC’s holdings, making the stock its 15th largest holding. CWA Asset Management Group LLC owned 0.08% of Franco-Nevada worth $32,424,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FNV. Osaic Holdings Inc. grew its holdings in shares of Franco-Nevada by 210.4% during the 2nd quarter. Osaic Holdings Inc. now owns 18,235 shares of the basic materials company’s stock valued at $2,989,000 after purchasing an additional 12,360 shares during the last quarter. Markel Group Inc. grew its stake in shares of Franco-Nevada by 8.4% during the second quarter. Markel Group Inc. now owns 569,500 shares of the basic materials company’s stock valued at $93,352,000 after buying an additional 44,250 shares during the last quarter. Horizon Kinetics Asset Management LLC increased its holdings in shares of Franco-Nevada by 2.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 1,043,546 shares of the basic materials company’s stock worth $171,058,000 after buying an additional 26,772 shares during the period. Euro Pacific Asset Management LLC lifted its stake in shares of Franco-Nevada by 2.4% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 234,129 shares of the basic materials company’s stock valued at $48,829,000 after acquiring an additional 5,501 shares during the last quarter. Finally, Shell Asset Management Co. lifted its stake in shares of Franco-Nevada by 14.2% in the 2nd quarter. Shell Asset Management Co. now owns 18,191 shares of the basic materials company’s stock valued at $2,980,000 after acquiring an additional 2,268 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Up 0.5%

Shares of Franco-Nevada stock opened at $208.24 on Monday. The business has a 50 day moving average of $201.54 and a 200 day moving average of $190.32. Franco-Nevada Corporation has a 52 week low of $120.67 and a 52 week high of $225.63. The company has a market cap of $40.15 billion, a PE ratio of 43.66, a P/E/G ratio of 1.24 and a beta of 0.48.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The business had revenue of $487.70 million for the quarter, compared to the consensus estimate of $448.51 million. During the same period in the previous year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 76.9% compared to the same quarter last year. On average, research analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Thursday, December 4th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, December 4th. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Jefferies Financial Group restated a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a research report on Sunday, December 7th. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. HC Wainwright upped their price target on shares of Franco-Nevada from $200.00 to $210.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 22nd. Finally, Raymond James Financial raised their price target on shares of Franco-Nevada from $218.00 to $234.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $232.75.

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.