Franco-Nevada Corporation $FNV Stock Position Increased by Chevy Chase Trust Holdings LLC

Key Points

• Chevy Chase Trust Holdings increased its stake in Franco‑Nevada by 10.5% in Q3, owning 469,201 shares (about 0.24% of the company) valued at approximately $104.59 million.
• Franco‑Nevada beat Q1 expectations with EPS of $1.85 (vs. $1.67 est.) and revenue of $597.3M (up 86.1% YoY), and raised its quarterly dividend to $0.44 ($1.76 annualized; yield ~0.7%).
• Analyst sentiment is mixed but generally favorable — the consensus is a “Moderate Buy” with an average price target of $256.88, amid several recent upgrades and downgrades.

Chevy Chase Trust Holdings LLC increased its position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 10.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,201 shares of the basic materials company's stock after buying an additional 44,750 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.24% of Franco-Nevada worth $104,590,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. MTM Investment Management LLC bought a new stake in Franco-Nevada in the second quarter worth about $32,000. Smartleaf Asset Management LLC lifted its holdings in Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. CENTRAL TRUST Co boosted its position in shares of Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 195 shares in the last quarter. City Holding Co. acquired a new position in shares of Franco-Nevada in the 3rd quarter worth approximately $56,000. Finally, Montag A & Associates Inc. grew its stake in shares of Franco-Nevada by 150.0% in the 3rd quarter. Montag A & Associates Inc. now owns 250 shares of the basic materials company's stock worth $56,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating in a report on Monday, November 24th. HC Wainwright lifted their price target on shares of Franco-Nevada from $285.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday. UBS Group reaffirmed a "buy" rating and issued a $310.00 price target on shares of Franco-Nevada in a report on Friday, January 30th. Weiss Ratings downgraded Franco-Nevada from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, March 6th. Finally, Canaccord Genuity Group lowered Franco-Nevada from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $256.88.

Franco-Nevada Trading Down 4.6%

FNV stock opened at $251.45 on Friday. Franco-Nevada Corporation has a one year low of $140.03 and a one year high of $285.67. The firm has a 50-day moving average of $250.76 and a two-hundred day moving average of $219.55. The firm has a market capitalization of $48.48 billion, a PE ratio of 43.65, a P/E/G ratio of 3.33 and a beta of 0.45.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.18. The business had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. Franco-Nevada had a net margin of 61.01% and a return on equity of 15.62%. The firm's quarterly revenue was up 86.1% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. On average, equities research analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada's previous quarterly dividend of $0.38. Franco-Nevada's dividend payout ratio is presently 30.56%.

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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