5,004 Shares in Franco-Nevada Corporation $FNV Bought by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management bought a new stake of 5,004 shares of Franco‑Nevada (NYSE:FNV) in Q3 valued at about $1.115 million, and institutional investors now own roughly 77.06% of the company.
• Quarterly results beat expectations: Franco‑Nevada reported $1.85 EPS versus $1.67 expected and revenue of $597.3M versus $542.0M, with revenue up 86.1% year‑over‑year and a net margin of 61.0%.
• Dividend increase: the company raised its quarterly dividend to $0.44 (annualized $1.76), implying a yield of about 0.7% and a payout ratio near 30.6%.

Clark Capital Management Group Inc. bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,004 shares of the basic materials company's stock, valued at approximately $1,115,000.

A number of other hedge funds have also made changes to their positions in the company. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada in the 2nd quarter worth about $32,000. Smartleaf Asset Management LLC increased its holdings in Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 168 shares in the last quarter. City Holding Co. purchased a new position in Franco-Nevada during the 3rd quarter valued at about $56,000. Montag A & Associates Inc. raised its position in Franco-Nevada by 150.0% during the third quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company's stock worth $56,000 after acquiring an additional 150 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Franco-Nevada by 19.6% during the third quarter. Versant Capital Management Inc now owns 433 shares of the basic materials company's stock worth $97,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Up 0.8%

Shares of NYSE:FNV opened at $253.87 on Tuesday. The stock's 50-day moving average price is $251.58 and its two-hundred day moving average price is $220.27. Franco-Nevada Corporation has a 12-month low of $140.03 and a 12-month high of $285.67. The firm has a market cap of $48.95 billion, a price-to-earnings ratio of 44.07, a PEG ratio of 3.65 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.67 by $0.18. The company had revenue of $597.30 million during the quarter, compared to analysts' expectations of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The firm's revenue was up 86.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.95 EPS. As a group, research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be issued a $0.44 dividend. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada's payout ratio is presently 30.56%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Scotiabank increased their price target on shares of Franco-Nevada from $283.00 to $286.00 and gave the company a "sector perform" rating in a research report on Monday. Wall Street Zen upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Monday, November 24th. UBS Group reaffirmed a "buy" rating and issued a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. Jefferies Financial Group reiterated a "hold" rating and set a $228.00 target price on shares of Franco-Nevada in a report on Sunday, December 7th. Finally, Weiss Ratings downgraded Franco-Nevada from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus target price of $257.25.

Franco-Nevada Profile

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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