Canada Pension Plan Investment Board Invests $254.51 Million in Franco-Nevada Corporation $FNV

Key Points

• Canada Pension Plan Investment Board acquired 1.22 million Franco-Nevada shares worth approximately $254.5 million, representing about 0.63% of the company. Institutional investors collectively own 77.06% of FNV.
• Analyst sentiment is broadly positive: Franco-Nevada has a consensus rating of “Moderate Buy” from 15 analysts, with an average price target of $273.40.
• The company reported quarterly revenue of $580.9 million, up 57.3% year over year, though EPS of $1.81 missed estimates. Franco-Nevada also declared a quarterly dividend of $0.44, equal to a 0.6% annualized yield.

Canada Pension Plan Investment Board acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,220,989 shares of the basic materials company's stock, valued at approximately $254,515,000. Canada Pension Plan Investment Board owned about 0.63% of Franco-Nevada at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FNV. Composition Wealth LLC boosted its stake in Franco-Nevada by 0.8% during the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company's stock worth $1,266,000 after buying an additional 49 shares during the period. Clark Capital Management Group Inc. lifted its holdings in shares of Franco-Nevada by 1.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company's stock worth $1,048,000 after acquiring an additional 50 shares during the last quarter. Syon Capital LLC lifted its holdings in shares of Franco-Nevada by 2.1% in the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company's stock worth $506,000 after acquiring an additional 51 shares during the last quarter. PFG Investments LLC boosted its position in shares of 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 purchasing an additional 52 shares during the period. Finally, Guardian Partners Inc. increased its holdings in Franco-Nevada by 3.2% in the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company's stock valued at $351,000 after purchasing an additional 52 shares during the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. TD raised Franco-Nevada from a "hold" rating to a "buy" rating and cut their target price for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. UBS Group lowered their price target on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. TD Cowen raised Franco-Nevada from a "hold" rating to a "buy" rating and dropped their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Jefferies Financial Group cut their price objective on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Finally, National Bank Financial raised Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.40.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $271.84 on Wednesday. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67. The company has a 50 day moving average price of $221.36 and a 200 day moving average price of $235.52. The stock has a market capitalization of $52.43 billion, a P/E ratio of 35.53, a price-to-earnings-growth ratio of 2.49 and a beta of 0.35.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) 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 business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same quarter last year, the company earned $1.24 earnings per share. Franco-Nevada's quarterly revenue was up 57.3% compared to the same quarter last year. On average, research analysts forecast that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) 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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