Greenleaf Trust Takes $206,000 Position in Franco-Nevada Corporation $FNV

Key Points

• Greenleaf Trust has acquired a new stake in Franco-Nevada Corporation valued at approximately $206,000, purchasing 1,257 shares during the second quarter.
• Several institutional investors have significantly increased their holdings in Franco-Nevada, with notable increases including Connor Clark & Lunn Investment Management growing its stake by 198.1% in the first quarter.
• Analysts have mixed ratings on Franco-Nevada, with a consensus target price of $194.57, and 7 analysts rating it as a "Buy" while another 7 rated it as a "Hold."

Greenleaf Trust purchased a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 1,257 shares of the basic materials company's stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Franco-Nevada by 198.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,705,489 shares of the basic materials company's stock worth $268,280,000 after buying an additional 1,133,373 shares in the last quarter. Scharf Investments LLC bought a new stake in Franco-Nevada during the 2nd quarter worth $78,509,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Franco-Nevada by 101.1% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 672,148 shares of the basic materials company's stock worth $105,731,000 after acquiring an additional 337,926 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Franco-Nevada by 53.8% in the 1st quarter. Canada Pension Plan Investment Board now owns 883,293 shares of the basic materials company's stock worth $138,945,000 after purchasing an additional 309,161 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in Franco-Nevada by 280.7% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 365,812 shares of the basic materials company's stock valued at $57,526,000 after purchasing an additional 269,730 shares during the last quarter. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. TD Securities boosted their price target on Franco-Nevada from $182.00 to $184.00 and gave the stock a "hold" rating in a report on Tuesday, August 12th. Scotiabank lifted their target price on shares of Franco-Nevada from $182.00 to $184.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 12th. CIBC restated an "outperform" rating on shares of Franco-Nevada in a research report on Tuesday, July 15th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Franco-Nevada in a report on Saturday, September 27th. Finally, Wall Street Zen cut shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Friday. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $194.57.

Franco-Nevada Stock Performance

NYSE:FNV opened at $220.55 on Friday. Franco-Nevada Corporation has a 52 week low of $112.70 and a 52 week high of $225.63. The firm's fifty day moving average is $190.09 and its 200-day moving average is $172.63. The firm has a market cap of $42.50 billion, a P/E ratio of 54.19, a P/E/G ratio of 2.89 and a beta of 0.42.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Monday, August 11th. The basic materials company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to the consensus estimate of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. Franco-Nevada's quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.75 earnings per share. As a group, sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Investors of record on Thursday, September 11th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, September 11th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Franco-Nevada's dividend payout ratio is presently 37.35%.

Franco-Nevada Company Profile

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.

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