Groupe la Francaise Increases Stock Position in Franco-Nevada Corporation $FNV

Key Points

• Groupe la Française increased its Franco-Nevada position by 9.7% in the second quarter, adding 15,000 shares to own 170,000 shares valued at approximately $35.5 million. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly revenue of $580.9 million, up 57.3% year over year, but missed analyst expectations for both revenue and earnings per share. The company posted $1.81 EPS versus the $1.95 consensus estimate.
• The company declared a quarterly dividend of $0.44 per share, or $1.76 annualized, representing a 0.7% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $273.40.

Groupe la Francaise boosted its holdings in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 9.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 170,000 shares of the basic materials company's stock after buying an additional 15,000 shares during the period. Groupe la Francaise owned approximately 0.09% of Franco-Nevada worth $35,487,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FNV. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada during the 4th quarter valued at $25,000. Smartleaf Asset Management LLC boosted its stake 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 worth $32,000 after purchasing an additional 168 shares during the period. Navalign LLC purchased a new position in Franco-Nevada during the 4th quarter valued at about $34,000. Global Retirement Partners LLC purchased a new position in Franco-Nevada during the 2nd quarter valued at about $35,000. Finally, Quattro Advisors LLC bought a new stake in shares of Franco-Nevada during the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Performance

NYSE FNV opened at $266.35 on Monday. Franco-Nevada Corporation has a 52-week low of $181.50 and a 52-week high of $285.67. The company has a fifty day moving average of $229.07 and a 200-day moving average of $236.64. The company has a market capitalization of $51.37 billion, a P/E ratio of 34.82, a P/E/G ratio of 2.46 and a beta of 0.39.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share 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 analysts' expectations of $616.66 million. During the same quarter in the previous year, the business earned $1.24 EPS. The company's revenue for the quarter was up 57.3% on a year-over-year basis. As a group, analysts forecast that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada's dividend payout ratio (DPR) is presently 23.01%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FNV. Wall Street Zen downgraded shares of Franco-Nevada from a "buy" rating to a "hold" rating in a report on Monday, June 1st. Royal Bank Of Canada cut their price target on shares of Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. TD Cowen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and reduced their price target for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price objective on the stock in a research report on Wednesday, May 20th. Finally, Scotiabank dropped their price objective on Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating for the company in a research note on Tuesday, July 14th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada presently has a consensus rating of "Moderate Buy" and an average 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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