Y Intercept Hong Kong Ltd Buys New Holdings in Franco-Nevada Corporation $FNV

Y Intercept Hong Kong Ltd purchased a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 1st quarter, HoldingsChannel reports. The institutional investor purchased 30,802 shares of the basic materials company’s stock, valued at approximately $7,610,000.

A number of other institutional investors also recently bought and sold shares of the business. PFG Investments LLC lifted its stake in Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after acquiring an additional 46 shares during the period. Composition Wealth LLC increased its stake in shares of Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares during the period. Clark Capital Management Group Inc. raised its holdings in shares of Franco-Nevada by 1.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 50 shares during the last quarter. Syon Capital LLC lifted its position in Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after purchasing an additional 51 shares during the period. Finally, Guardian Partners Inc. grew its position in Franco-Nevada by 3.2% during the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 52 shares during the period. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 0.2%

Shares of FNV stock opened at $217.24 on Friday. The company has a market capitalization of $41.90 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.89 and a beta of 0.36. The business’s 50 day moving average is $224.52 and its two-hundred day moving average is $237.01. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67.

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

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is currently 24.79%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on FNV shares. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. UBS Group reduced their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $268.00.

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.