Quantinno Capital Management LP Purchases 5,146 Shares of Franco-Nevada Corporation $FNV

Quantinno Capital Management LP lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 15.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,028 shares of the basic materials company’s stock after purchasing an additional 5,146 shares during the period. Quantinno Capital Management LP’s holdings in Franco-Nevada were worth $9,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada during the 4th quarter worth approximately $25,000. Private Trust Co. NA purchased a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $29,000. Smartleaf Asset Management LLC lifted its holdings in Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares during the period. Navalign LLC bought a new stake in Franco-Nevada during the fourth quarter worth $34,000. Finally, Quattro Advisors LLC purchased a new position in Franco-Nevada in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FNV. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Zacks Research downgraded shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Stock Performance

Shares of FNV opened at $218.95 on Wednesday. The business has a 50-day moving average of $214.63 and a 200 day moving average of $236.03. Franco-Nevada Corporation has a fifty-two week low of $164.90 and a fifty-two week high of $285.67. The firm has a market cap of $42.23 billion, a P/E ratio of 30.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate 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 was up 76.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 earnings per share. As a group, research analysts predict that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given 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%.

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.