Corient Private Wealth LP Buys New Position in Franco-Nevada Corporation $FNV

Key Points

• Corient Private Wealth LP acquired 29,278 shares of Franco-Nevada in the second quarter, valued at approximately $6.1 million. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly EPS of $1.81, below the $1.95 consensus estimate, while revenue rose 57.3% year over year to $580.9 million.
• 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 with an average price target of $273.40.

Corient Private Wealth LP 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 filing with the Securities and Exchange Commission (SEC). The fund acquired 29,278 shares of the basic materials company's stock, valued at approximately $6,103,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter valued at about $25,000. Smartleaf Asset Management LLC grew its holdings in shares of Franco-Nevada by 600.0% during the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock worth $32,000 after buying an additional 168 shares during the last quarter. Navalign LLC purchased a new position in shares of Franco-Nevada during the fourth quarter worth about $34,000. Global Retirement Partners LLC acquired a new position in Franco-Nevada in the 2nd quarter valued at about $35,000. Finally, Dunhill Financial LLC acquired a new position in Franco-Nevada in the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

NYSE FNV opened at $263.04 on Tuesday. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year high of $285.67. The company has a market capitalization of $50.73 billion, a P/E ratio of 34.38, a PEG ratio of 2.46 and a beta of 0.35. The business has a 50 day moving average price of $224.99 and a 200 day moving average price of $236.28.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings data 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). 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 during the quarter, compared to analysts' expectations of $616.66 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. Franco-Nevada's quarterly revenue was up 57.3% on a year-over-year basis. On average, research analysts expect that Franco-Nevada Corporation will post 7.54 earnings per share 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. Investors of record on Thursday, September 10th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada's dividend payout ratio (DPR) is 23.01%.

Wall Street Analysts Forecast Growth

FNV has been the subject of several analyst reports. TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. TD Cowen upgraded shares of 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 report on Wednesday, May 20th. Zacks Research raised shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 11th. Wall Street Zen downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Monday, June 1st. Finally, UBS Group cut their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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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