3,294 Shares in Franco-Nevada Corporation $FNV Bought by NFJ Investment Group LLC

NFJ Investment Group LLC bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,294 shares of the basic materials company’s stock, valued at approximately $687,000.

A number of other hedge funds have also made changes to their positions in the company. Ceredex Value Advisors LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter worth about $35,291,000. Vise Technologies Inc. purchased a new stake in shares of Franco-Nevada in the second quarter valued at $731,000. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Franco-Nevada during the 2nd quarter worth about $5,495,000. Tocqueville Asset Management L.P. acquired a new stake in Franco-Nevada during the second quarter worth approximately $8,915,000. Finally, West Family Investments Inc. purchased a new stake in Franco-Nevada in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Royal Bank Of Canada lowered their target price on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. HC Wainwright restated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Finally, TD raised Franco-Nevada from a “hold” rating to a “buy” rating and lowered their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Stock Up 3.0%

FNV stock opened at $265.78 on Friday. The stock has a market cap of $51.26 billion, a PE ratio of 34.74, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35. The firm’s 50-day simple moving average is $219.57 and its 200 day simple moving average is $235.05. Franco-Nevada Corporation has a fifty-two week low of $180.32 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same period in the previous year, the firm earned $1.24 earnings per share. The company’s revenue for the quarter was up 57.3% on a year-over-year basis. Equities analysts forecast that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s dividend payout ratio is 23.01%.

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.