Franco-Nevada Corporation $FNV Position Raised by Quantitative Investment Management LLC

Quantitative Investment Management LLC lifted its position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 448.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 6,641 shares of the basic materials company's stock after acquiring an additional 5,430 shares during the period. Quantitative Investment Management LLC's holdings in Franco-Nevada were worth $1,384,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Van ECK Associates Corp lifted its position in Franco-Nevada by 12.8% in 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 raised its holdings in shares of Franco-Nevada by 26.5% during 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 buying an additional 1,074,257 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in shares of Franco-Nevada by 3.3% during 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 buying an additional 110,222 shares during the period. Royal Bank of Canada boosted its position in shares of Franco-Nevada by 10.2% during 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 buying an additional 260,793 shares during the period. Finally, Norges Bank bought a new position in Franco-Nevada in the 4th quarter worth approximately $578,577,000. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Price Performance

FNV opened at $263.04 on Tuesday. The company has a market capitalization of $50.73 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.35. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year high of $285.67. The business has a 50 day moving average price of $224.99 and a two-hundred day moving average price of $236.28.

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 (EPS) 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 firm had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. During the same period in the previous year, the business posted $1.24 earnings per share. The business's revenue for the quarter was up 57.3% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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 paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada's dividend payout ratio (DPR) is currently 23.01%.

Wall Street Analyst Weigh In

Several analysts have weighed in on FNV shares. Bank of America cut their target price 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. Weiss Ratings cut Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. HC Wainwright restated a "buy" rating and set a $305.00 price objective on shares of Franco-Nevada in a research note on Wednesday, May 13th. TD raised shares of Franco-Nevada from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Franco-Nevada 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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