Euro Pacific Asset Management LLC Buys 2,838 Shares of Franco-Nevada Corporation $FNV

Euro Pacific Asset Management LLC raised its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 236,967 shares of the basic materials company’s stock after purchasing an additional 2,838 shares during the quarter. Franco-Nevada accounts for about 0.1% of Euro Pacific Asset Management LLC’s investment portfolio, making the stock its 5th biggest position. Euro Pacific Asset Management LLC owned about 0.12% of Franco-Nevada worth $46,666,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Franco-Nevada by 1.6% during the third quarter. Vanguard Group Inc. now owns 8,216,318 shares of the basic materials company’s stock worth $1,828,821,000 after buying an additional 129,898 shares in the last quarter. Bank of Montreal Can raised its holdings in Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after acquiring an additional 454,175 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Franco-Nevada by 26.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company’s stock valued at $901,092,000 after acquiring an additional 846,950 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Franco-Nevada by 35.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after acquiring an additional 838,853 shares during the period. Finally, Mackenzie Financial Corp lifted its position in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after acquiring an additional 1,020,509 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FNV. Scotiabank boosted their price objective on Franco-Nevada from $283.00 to $286.00 and gave the company a “sector perform” rating in a research report on Monday, March 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $225.00 to $250.00 in a research note on Wednesday, December 10th. Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Finally, HC Wainwright increased their price objective on shares of Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.25.

Franco-Nevada Trading Down 0.3%

FNV stock opened at $233.33 on Tuesday. Franco-Nevada Corporation has a 1-year low of $140.03 and a 1-year high of $285.67. The business’s 50 day moving average is $251.81 and its 200-day moving average is $223.09. The firm has a market cap of $44.99 billion, a P/E ratio of 40.51, a P/E/G ratio of 2.50 and a beta of 0.45.

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

Franco-Nevada Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th were paid a $0.44 dividend. The ex-dividend date was Thursday, March 12th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is presently 30.56%.

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.