69,566 Shares in Franco-Nevada Corporation $FNV Acquired by Oxbow Advisors LLC

Key Points

• Oxbow Advisors LLC acquired 69,566 Franco-Nevada shares worth approximately $14.5 million in the second quarter, making the stock 1.2% of its portfolio. Institutional investors collectively own 77.06% of FNV.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and a $273.40 price target.
• Franco-Nevada’s quarterly revenue rose 57.3% year over year, although EPS of $1.81 and revenue of $580.9 million missed estimates. The company declared a quarterly dividend of $0.44 per share, equal to a 0.8% annual yield.

Oxbow Advisors LLC acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 69,566 shares of the basic materials company's stock, valued at approximately $14,500,000. Franco-Nevada accounts for 1.2% of Oxbow Advisors LLC's holdings, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Crescent Grove Advisors LLC bought a new position in shares of Franco-Nevada in the 4th quarter worth $489,000. PKO Investment Management Joint Stock Co increased its holdings in Franco-Nevada by 11.4% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company's stock valued at $14,519,000 after purchasing an additional 7,150 shares during the last quarter. Markel Group Inc. increased its holdings in Franco-Nevada by 9.2% in the second quarter. Markel Group Inc. now owns 773,500 shares of the basic materials company's stock valued at $161,228,000 after purchasing an additional 65,000 shares during the last quarter. Bank of Nova Scotia lifted its stake in Franco-Nevada by 5.1% in the first quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company's stock valued at $120,146,000 after buying an additional 23,587 shares during the period. Finally, Annex Advisory Services LLC boosted its holdings in Franco-Nevada by 70.5% during the second quarter. Annex Advisory Services LLC now owns 160,605 shares of the basic materials company's stock worth $33,477,000 after buying an additional 66,432 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FNV. Weiss Ratings cut Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. National Bank Financial raised shares of Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. Royal Bank Of Canada decreased their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 target price for the company in a research note on Wednesday, May 20th. Finally, Bank of America lowered their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus price target of $273.40.

Franco-Nevada Stock Performance

Shares of FNV opened at $232.88 on Wednesday. The stock has a 50 day simple moving average of $216.58 and a 200 day simple moving average of $234.73. Franco-Nevada Corporation has a 52-week low of $173.39 and a 52-week high of $285.67. The firm has a market capitalization of $44.92 billion, a PE ratio of 30.44, a P/E/G ratio of 2.14 and a beta of 0.35.

Franco-Nevada (NYSE:FNV - Get Free Report) 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). The business had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.Franco-Nevada's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Equities research analysts predict that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business 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 dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) is presently 23.01%.

Franco-Nevada Company 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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