Franco-Nevada Corporation $FNV Stock Position Raised by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP increased its Franco-Nevada stake by 245.5% in the second quarter, holding 29,133 shares valued at approximately $6.1 million. Institutional investors collectively own 77.06% of the company.
• Analysts remain generally positive, with 11 Buy ratings and four Holds, producing a consensus rating of “Moderate Buy” and an average price target of $274.90, despite some target-price reductions.
• Franco-Nevada reported quarterly revenue of $580.9 million, up 57.3% year over year, but missed earnings and revenue estimates. The company also declared a quarterly dividend of $0.44 per share, equivalent to a 0.7% annual yield.

Corient Private Wealth LP increased its stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 245.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,133 shares of the basic materials company's stock after buying an additional 20,701 shares during the quarter. Corient Private Wealth LP's holdings in Franco-Nevada were worth $6,072,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Ascentis Independent Advisors bought a new stake in shares of Franco-Nevada during the first quarter valued at about $39,000. Transamerica Financial Advisors LLC acquired a new position in Franco-Nevada during the 2nd quarter valued at about $33,000. Global Retirement Partners LLC acquired a new position in Franco-Nevada during the 2nd quarter valued at about $35,000. Dunhill Financial LLC bought a new stake in shares of Franco-Nevada during the 2nd quarter worth about $36,000. Finally, GAMMA Investing LLC raised its position in shares of Franco-Nevada by 62.2% during the 2nd quarter. GAMMA Investing LLC now owns 193 shares of the basic materials company's stock worth $40,000 after buying an additional 74 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group dropped their target price on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a report on Monday, July 6th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Franco-Nevada in a research report on Friday, September 4th. Royal Bank Of Canada lifted their price target on Franco-Nevada from $285.00 to $300.00 and gave the company an "outperform" rating in a research report on Wednesday. UBS Group dropped their price objective on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Finally, Wall Street Zen cut Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $274.90.

Franco-Nevada Stock Performance

NYSE FNV opened at $266.45 on Friday. Franco-Nevada Corporation has a twelve month low of $181.50 and a twelve month high of $285.67. The stock has a market cap of $51.39 billion, a PE ratio of 34.83, a PEG ratio of 2.46 and a beta of 0.39. The firm has a 50-day simple moving average of $239.89 and a 200 day simple moving average of $236.66.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.Franco-Nevada's revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.24 EPS. Research analysts forecast that Franco-Nevada Corporation will post 7.54 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued 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%.

Franco-Nevada Company Profile

Franco-Nevada Corporation NYSE: FNV is a Canada-based royalty and streaming company focused primarily on precious metals. Rather than operating mines, the company provides upfront capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from designated assets.

Its portfolio is anchored by gold royalties and streams, with additional exposure to silver, platinum group metals and other mined commodities. Franco-Nevada also holds interests in certain energy assets, including oil and natural gas royalties.

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