Beacon Pointe Advisors LLC Purchases Shares of 43,183 Franco-Nevada Corporation $FNV

Key Points

• Beacon Pointe Advisors acquired 43,183 Franco-Nevada shares worth approximately $9.0 million, while institutional and hedge-fund investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly earnings of $1.81 per share, below the $1.95 consensus estimate, and revenue of $580.9 million, although revenue increased 57.3% year over year.
• The company declared a quarterly dividend of $0.44 per share, equivalent to $1.76 annually and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $273.40.

Beacon Pointe Advisors LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 43,183 shares of the basic materials company's stock, valued at approximately $9,001,000.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company's stock valued at $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company's stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares during the period. EdgePoint Investment Group Inc. raised its stake in shares of Franco-Nevada by 3.3% in the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company's stock worth $857,196,000 after purchasing an additional 110,222 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Franco-Nevada by 10.2% in the fourth quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company's stock worth $582,177,000 after purchasing an additional 260,793 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Franco-Nevada during the fourth quarter worth about $578,577,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Stock Down 1.8%

Shares of NYSE FNV opened at $266.33 on Friday. The firm has a market cap of $51.37 billion, a price-to-earnings ratio of 34.81, a price-to-earnings-growth ratio of 2.51 and a beta of 0.35. The company's 50-day simple moving average is $224.15 and its 200-day simple moving average is $236.31. Franco-Nevada Corporation has a 52-week low of $181.50 and a 52-week high of $285.67.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its quarterly 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 net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analysts' expectations of $616.66 million. During the same period in the prior year, the business posted $1.24 earnings per share. The company's quarterly revenue was up 57.3% compared to the same quarter last year. Equities research analysts anticipate that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) is 23.01%.

Analyst Ratings Changes

FNV has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their target price on Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Scotiabank reduced their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Weiss Ratings downgraded shares of Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a report on Monday, June 8th. Finally, TD Securities upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price objective on the stock in a research note on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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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