Bard Associates Inc. Invests $1.97 Million in Franco-Nevada Corporation $FNV

Key Points

• Bard Associates acquired 9,455 Franco-Nevada shares worth approximately $1.97 million during the second quarter, while institutional investors and hedge funds collectively own 77.06% of the stock.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and four Holds producing a consensus “Moderate Buy” rating and an average price target of $273.40.
• Franco-Nevada’s latest quarter showed revenue growth of 57.3% year over year, although earnings and revenue missed estimates; the company also declared a quarterly dividend of $0.44 per share.

Bard Associates Inc. bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,455 shares of the basic materials company's stock, valued at approximately $1,971,000.

Several other hedge funds also recently bought and sold shares of FNV. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada during the 4th quarter worth about $25,000. Private Trust Co. NA acquired a new stake in Franco-Nevada during the fourth quarter worth about $29,000. Ascentis Independent Advisors acquired a new stake in shares of Franco-Nevada during the 1st quarter worth approximately $39,000. Navalign LLC acquired a new position in shares of Franco-Nevada in the 4th quarter valued at $34,000. Finally, Global Retirement Partners LLC acquired a new stake in Franco-Nevada during the second quarter valued at approximately $35,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FNV shares. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday, April 29th. TD Securities raised shares of Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price target on the stock in a research note on Wednesday, May 20th. HC Wainwright restated a "buy" rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Finally, Weiss Ratings downgraded shares of Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, June 8th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $273.40.

Franco-Nevada Stock Up 3.0%

Shares of FNV stock opened at $265.78 on Friday. The company has a market cap of $51.26 billion, a price-to-earnings ratio of 34.74, a price-to-earnings-growth ratio of 2.36 and a beta of 0.35. Franco-Nevada Corporation has a 52 week low of $180.32 and a 52 week high of $285.67. The firm has a 50 day moving average of $219.57 and a 200-day moving average of $235.05.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its 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). 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 in the previous year, the company earned $1.24 earnings per share. Franco-Nevada's revenue for the quarter was up 57.3% compared to the same quarter last year. Analysts anticipate that Franco-Nevada Corporation will post 7.6 earnings per share for the current year.

Franco-Nevada Announces Dividend

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 paid a $0.44 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. Franco-Nevada's payout ratio is presently 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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