Anchor Capital Advisors LLC Invests $32 Million in Franco-Nevada Corporation $FNV

Key Points

• Anchor Capital Advisors purchased 153,496 shares of Franco-Nevada, valued at approximately $32 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 77.06% of the company.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings and four Holds and an average price target of $273.40. Shares opened at $266.35.
• Franco-Nevada reported quarterly EPS of $1.81 and revenue of $580.9 million, both below analyst expectations, although revenue rose 57.3% year over year. The company also declared a quarterly dividend of $0.44 per share, representing a 0.7% yield.

Anchor Capital Advisors LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 153,496 shares of the basic materials company's stock, valued at approximately $31,995,000. Anchor Capital Advisors LLC owned approximately 0.08% of Franco-Nevada as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Allianz Asset Management GmbH lifted its position in Franco-Nevada by 1.1% in the second quarter. Allianz Asset Management GmbH now owns 256,067 shares of the basic materials company's stock valued at $53,412,000 after purchasing an additional 2,836 shares during the period. Corient Private Wealth LP grew its holdings in Franco-Nevada by 245.5% during the second quarter. Corient Private Wealth LP now owns 29,133 shares of the basic materials company's stock worth $6,072,000 after acquiring an additional 20,701 shares during the period. Groupe la Francaise grew its holdings in Franco-Nevada by 9.7% during the second quarter. Groupe la Francaise now owns 170,000 shares of the basic materials company's stock worth $35,487,000 after acquiring an additional 15,000 shares during the period. HB Wealth Management LLC grew its holdings in Franco-Nevada by 23.5% during the second quarter. HB Wealth Management LLC now owns 2,856 shares of the basic materials company's stock worth $595,000 after acquiring an additional 543 shares during the period. Finally, Syon Capital LLC raised its position in Franco-Nevada by 2.9% in the second quarter. Syon Capital LLC now owns 2,660 shares of the basic materials company's stock worth $554,000 after acquiring an additional 76 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on FNV. Weiss Ratings reissued a "buy (b-)" rating on shares of Franco-Nevada in a report on Friday. TD upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and cut their price target for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. National Bank Financial upgraded shares of Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. TD Cowen raised shares of Franco-Nevada from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Jefferies Financial Group lowered their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a research report on Monday, July 6th. 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $273.40.

Franco-Nevada Stock Up 0.1%

Shares of FNV stock opened at $266.35 on Tuesday. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67. The stock has a market cap of $51.37 billion, a P/E ratio of 34.82, a P/E/G ratio of 2.46 and a beta of 0.39. The business has a fifty day simple moving average of $230.25 and a 200-day simple moving average of $236.76.

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 (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same period last year, the firm earned $1.24 EPS. The company's quarterly revenue was up 57.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Franco-Nevada Corporation will post 7.54 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm 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 dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) is 23.01%.

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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