151,252 Shares in Franco-Nevada Corporation $FNV Bought by Jupiter Topco LLC

Key Points

• Jupiter Topco LLC acquired 151,252 Franco-Nevada shares valued at approximately $31.5 million, representing about 0.08% of the company. Institutional investors and hedge funds collectively own 77.06% of the stock.
• Franco-Nevada reported quarterly EPS of $1.81, below the $1.95 analyst consensus, while revenue rose 57.3% year over year to $580.9 million. Shares opened at $266.33, with a market capitalization of roughly $51.4 billion.
• The company declared a quarterly dividend of $0.44 per share, equal to $1.76 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $273.40.

Jupiter Topco LLC bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 151,252 shares of the basic materials company's stock, valued at approximately $31,523,000. Jupiter Topco LLC owned about 0.08% of Franco-Nevada as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC acquired a new stake in Franco-Nevada during the fourth quarter valued at approximately $25,000. Smartleaf Asset Management LLC lifted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock valued at $32,000 after buying an additional 168 shares during the last quarter. Navalign LLC acquired a new position in Franco-Nevada during the 4th quarter valued at about $34,000. Global Retirement Partners LLC bought a new position in Franco-Nevada in the 2nd quarter worth about $35,000. Finally, Quattro Advisors LLC bought a new position in Franco-Nevada in the 4th quarter worth approximately $36,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 1.8%

Shares of Franco-Nevada stock opened at $266.33 on Friday. The stock's fifty day moving average is $224.15 and its 200-day moving average is $236.31. The firm has a market capitalization of $51.37 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.35. Franco-Nevada Corporation has a 12-month low of $181.50 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts' consensus estimates of $1.95 by ($0.14). The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.24 EPS. Analysts expect that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) is presently 23.01%.

Analyst Ratings Changes

Several brokerages have weighed in on FNV. Scotiabank cut their target price on Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Zacks Research raised Franco-Nevada from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. UBS Group lowered their price target on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Wall Street Zen cut shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. Finally, TD upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and decreased their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and a consensus target price of $273.40.

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.

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