Franco-Nevada Corporation $FNV Shares Bought by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Franco-Nevada stake by 5.4% in Q1, buying 12,791 additional shares and bringing its position to 249,758 shares worth about $57.2 million.
• Franco-Nevada reported strong quarterly results, with EPS of $2.38 beating estimates and revenue of $650.7 million topping forecasts; revenue jumped 76.6% from a year earlier.
• The company paid a quarterly dividend of $0.44 per share, which annualizes to $1.76 and a yield of about 0.9%, while analysts currently rate the stock a Moderate Buy with a consensus price target of $273.40.

Euro Pacific Asset Management LLC grew its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,758 shares of the basic materials company's stock after acquiring an additional 12,791 shares during the period. Franco-Nevada accounts for 5.5% of Euro Pacific Asset Management LLC's portfolio, making the stock its 4th largest holding. Euro Pacific Asset Management LLC owned about 0.13% of Franco-Nevada worth $57,190,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FNV. PFG Investments LLC increased its holdings in Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company's stock valued at $1,484,000 after purchasing an additional 46 shares in the last quarter. Composition Wealth LLC boosted its stake in Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company's stock worth $1,266,000 after purchasing an additional 49 shares in the last quarter. Clark Capital Management Group Inc. boosted its stake in Franco-Nevada by 1.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company's stock worth $1,048,000 after purchasing an additional 50 shares in the last quarter. Syon Capital LLC grew its holdings in shares of Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company's stock worth $506,000 after purchasing an additional 51 shares during the last quarter. Finally, Guardian Partners Inc. grew its holdings in shares of Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company's stock worth $351,000 after purchasing an additional 52 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

NYSE FNV opened at $200.81 on Friday. The stock has a fifty day moving average of $218.63 and a 200-day moving average of $236.41. The stock has a market capitalization of $38.73 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.67 and a beta of 0.36. Franco-Nevada Corporation has a 52 week low of $154.11 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, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm's revenue for the quarter was up 76.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Equities research analysts forecast that Franco-Nevada Corporation will post 8.22 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Franco-Nevada's dividend payout ratio is presently 24.79%.

Analysts Set New Price Targets

FNV has been the subject of a number of research reports. TD Cowen upgraded Franco-Nevada from a "hold" rating to a "buy" rating and lowered their target price for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a research report on Wednesday, April 29th. HC Wainwright reaffirmed a "buy" rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Finally, Zacks Research lowered shares of Franco-Nevada from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently 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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