Alberta Investment Management Corp Invests $17.55 Million in Franco-Nevada Corporation $FNV

Alberta Investment Management Corp acquired a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 84,206 shares of the basic materials company's stock, valued at approximately $17,553,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FNV. Composition Wealth LLC grew its stake in shares of Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company's stock valued at $1,266,000 after buying an additional 49 shares during the last quarter. Clark Capital Management Group Inc. boosted its holdings in Franco-Nevada by 1.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company's stock valued at $1,048,000 after acquiring an additional 50 shares during the period. Syon Capital LLC boosted its holdings in Franco-Nevada by 2.1% during the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company's stock valued at $506,000 after acquiring an additional 51 shares during the period. PFG Investments LLC grew its position in Franco-Nevada by 0.7% during the 1st quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company's stock worth $1,782,000 after acquiring an additional 52 shares during the last quarter. Finally, Guardian Partners Inc. grew its position in Franco-Nevada by 3.2% during the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company's stock worth $351,000 after acquiring an additional 52 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Trading Up 0.1%

Shares of Franco-Nevada stock opened at $234.50 on Monday. Franco-Nevada Corporation has a 12-month low of $173.39 and a 12-month high of $285.67. The company has a market cap of $45.23 billion, a P/E ratio of 30.65, a PEG ratio of 2.14 and a beta of 0.35. The company's fifty day simple moving average is $215.69 and its two-hundred day simple moving average is $235.14.

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 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million during 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%.The company's revenue for the quarter was up 57.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.24 earnings per share. Analysts predict that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada's dividend payout ratio is presently 23.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on FNV shares. Zacks Research raised Franco-Nevada from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Royal Bank Of Canada dropped their price objective on Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. TD upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and cut their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. UBS Group decreased their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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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