Evelyn Partners Investment Management Services Ltd Acquires 2,697 Shares of Franco-Nevada Corporation $FNV

Evelyn Partners Investment Management Services Ltd grew its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 6.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,546 shares of the basic materials company’s stock after acquiring an additional 2,697 shares during the quarter. Franco-Nevada accounts for 1.2% of Evelyn Partners Investment Management Services Ltd’s portfolio, making the stock its 23rd largest holding. Evelyn Partners Investment Management Services Ltd’s holdings in Franco-Nevada were worth $10,518,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Franco-Nevada in the 4th quarter worth $578,577,000. First Eagle Investment Management LLC raised its position in shares of Franco-Nevada by 26.5% during the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after buying an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after buying an additional 842,132 shares during the period. Capital Research Global Investors lifted its stake in shares of Franco-Nevada by 100.2% in the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after buying an additional 639,493 shares during the period. Finally, Deutsche Bank AG grew its position in Franco-Nevada by 30.7% during the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after buying an additional 443,839 shares in the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group cut their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a report on Monday, July 6th. Royal Bank Of Canada decreased their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Zacks Research lowered Franco-Nevada from a “hold” rating to a “strong sell” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Trading Down 0.2%

Shares of NYSE FNV opened at $214.25 on Tuesday. Franco-Nevada Corporation has a 1-year low of $157.18 and a 1-year high of $285.67. The company has a market cap of $41.32 billion, a PE ratio of 30.18, a P/E/G ratio of 1.81 and a beta of 0.36. The company has a 50-day moving average of $215.85 and a two-hundred day moving average of $236.63.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company’s revenue for the quarter was up 76.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 EPS. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s payout ratio 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.