Fullerton Fund Management Co Ltd. Purchases New Position in Franco-Nevada Corporation $FNV

Fullerton Fund Management Co Ltd. purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the fourth quarter, HoldingsChannel reports. The fund purchased 3,300 shares of the basic materials company’s stock, valued at approximately $685,000.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada in the 4th quarter valued at about $25,000. Burkett Financial Services LLC bought a new position in shares of Franco-Nevada in the 3rd quarter valued at about $28,000. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the 4th quarter valued at about $29,000. Finally, Navalign LLC bought a new position in shares of Franco-Nevada in the 4th quarter valued at about $34,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FNV. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a research report on Wednesday, May 20th. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Scotiabank increased their price objective on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $271.00.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $230.50 on Wednesday. Franco-Nevada Corporation has a 1-year low of $152.89 and a 1-year high of $285.67. The firm has a market capitalization of $44.45 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 1.94 and a beta of 0.34. The company’s 50-day moving average is $235.65 and its 200 day moving average is $236.43.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s revenue for the quarter was up 76.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.07 EPS. Research analysts anticipate that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is 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 (DPR) is 24.79%.

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.