BTG Pactual Asset Management US LLC Makes New Investment in Franco-Nevada Corporation $FNV

Key Points

• BTG Pactual Asset Management US acquired 6,275 shares of Franco-Nevada in the second quarter, valued at approximately $1.31 million. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported second-quarter EPS of $1.81, below the $1.95 analyst consensus, while revenue rose 57.3% year over year to $580.9 million. Shares opened at $263.04, within a 52-week range of $181.50 to $285.67.
• The company declared a quarterly dividend of $0.44 per share, equivalent to an annualized $1.76 payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $273.40.

BTG Pactual Asset Management US LLC 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 13F filing with the SEC. The institutional investor acquired 6,275 shares of the basic materials company's stock, valued at approximately $1,308,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Headlands Technologies LLC acquired a new stake in shares of Franco-Nevada during the 2nd quarter valued at about $237,000. Quantitative Investment Management LLC raised its position in Franco-Nevada by 448.4% in the second quarter. Quantitative Investment Management LLC now owns 6,641 shares of the basic materials company's stock worth $1,384,000 after purchasing an additional 5,430 shares in the last quarter. Two Sigma Securities LLC acquired a new position in Franco-Nevada in the second quarter worth about $255,000. Benjamin Edwards Inc. lifted its stake in Franco-Nevada by 13.2% during the second quarter. Benjamin Edwards Inc. now owns 4,503 shares of the basic materials company's stock worth $938,000 after purchasing an additional 525 shares during the period. Finally, Flputnam Investment Management Co. lifted its stake in Franco-Nevada by 13.1% during the second quarter. Flputnam Investment Management Co. now owns 1,012 shares of the basic materials company's stock worth $211,000 after purchasing an additional 117 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV opened at $263.04 on Tuesday. The company has a market cap of $50.73 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 2.46 and a beta of 0.35. The stock has a fifty day moving average price of $224.99 and a two-hundred day moving average price of $236.28. 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 announced 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 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. As a group, research analysts predict that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business 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 of this dividend is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada's payout ratio is currently 23.01%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FNV. TD Cowen upgraded Franco-Nevada from a "hold" rating to a "buy" rating and lowered their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Bank of America decreased their price target on Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. TD upgraded Franco-Nevada from a "hold" rating to a "buy" rating and lowered their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Weiss Ratings lowered Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. Finally, Zacks Research raised Franco-Nevada from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $273.40.

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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