Franco-Nevada Corporation $FNV Stock: Euro Pacific Asset Management LLC Raises Position

Euro Pacific Asset Management LLC raised its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 251,885 shares of the basic materials company’s stock after purchasing an additional 2,727 shares during the period. Franco-Nevada comprises 4.3% of Euro Pacific Asset Management LLC’s holdings, making the stock its 5th largest position. Euro Pacific Asset Management LLC’s holdings in Franco-Nevada were worth $66,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Burkett Asset Management Ltd grew its stake in Franco-Nevada by 2.7% in the 3rd quarter. Burkett Asset Management Ltd now owns 12,887 shares of the basic materials company’s stock valued at $3,077,000 after acquiring an additional 337 shares during the period. Pacifica Partners Inc. increased its holdings in Franco-Nevada by 13.2% in the 3rd quarter. Pacifica Partners Inc. now owns 712 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 83 shares in the last quarter. GAMMA Investing LLC raised its position in Franco-Nevada by 40.4% during the third quarter. GAMMA Investing LLC now owns 271 shares of the basic materials company’s stock worth $65,000 after acquiring an additional 78 shares during the period. Farther Finance Advisors LLC raised its position in Franco-Nevada by 80.0% during the third quarter. Farther Finance Advisors LLC now owns 2,329 shares of the basic materials company’s stock worth $555,000 after acquiring an additional 1,035 shares during the period. Finally, Moody National Bank Trust Division raised its position in Franco-Nevada by 9.9% during the third quarter. Moody National Bank Trust Division now owns 1,287 shares of the basic materials company’s stock worth $306,000 after acquiring an additional 116 shares during the period. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Trading Down 0.8%

FNV traded down $1.91 on Tuesday, hitting $243.84. 310,692 shares of the company’s stock were exchanged, compared to its average volume of 840,582. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67. The firm has a 50-day moving average price of $252.39 and a 200-day moving average price of $236.11. The stock has a market cap of $47.03 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 2.26 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released 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). The business had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%. Franco-Nevada’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 EPS. On average, equities analysts predict that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FNV. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Scotiabank reduced their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Royal Bank Of Canada raised their price target on shares of Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 16th. Bank of America lowered their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, Jefferies Financial Group lowered their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.