Ieq Capital LLC Invests $817,000 in Franco-Nevada Corporation $FNV

Key Points

• Ieq Capital LLC purchased 3,919 Franco-Nevada shares worth approximately $817,000 during the second quarter. Institutional investors collectively own 77.06% of the company.
• Analysts maintain a favorable outlook, with a consensus “Moderate Buy” rating and an average price target of $273.40; 11 analysts rate the stock a Buy versus four Holds.
• Franco-Nevada’s quarterly revenue rose 57.3% year over year to $580.9 million, though earnings of $1.81 per share missed estimates. The company also declared a quarterly dividend of $0.44 per share, implying a 0.6% yield.

Ieq Capital LLC purchased a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,919 shares of the basic materials company's stock, valued at approximately $817,000.

Several other institutional investors and hedge funds have also recently modified their holdings of FNV. Crescent Grove Advisors LLC bought a new stake in shares of Franco-Nevada in the fourth quarter worth about $489,000. PKO Investment Management Joint Stock Co lifted its position in shares of Franco-Nevada by 11.4% in the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company's stock worth $14,519,000 after buying an additional 7,150 shares in the last quarter. Markel Group Inc. boosted its stake in Franco-Nevada by 9.2% during the second quarter. Markel Group Inc. now owns 773,500 shares of the basic materials company's stock valued at $161,228,000 after buying an additional 65,000 shares during the last quarter. Bank of Nova Scotia boosted its stake in Franco-Nevada by 5.1% during the first quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company's stock valued at $120,146,000 after buying an additional 23,587 shares during the last quarter. Finally, Oxbow Advisors LLC grew its holdings in Franco-Nevada by 76.0% during the 4th quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company's stock valued at $7,324,000 after buying an additional 15,260 shares in the last quarter. Institutional investors own 77.06% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. TD Securities raised Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price objective on the stock in a report on Wednesday, May 20th. UBS Group cut their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Zacks Research upgraded shares of Franco-Nevada from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 11th. Jefferies Financial Group dropped their price objective on Franco-Nevada from $258.00 to $245.00 and set a "hold" rating on the stock in a research note on Monday, July 6th. Finally, National Bank Financial upgraded Franco-Nevada from a "sector perform" rating to an "outperform" rating in a report on Wednesday, May 13th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $273.40.

Franco-Nevada Stock Performance

NYSE:FNV opened at $271.94 on Friday. Franco-Nevada Corporation has a one year low of $181.50 and a one year high of $285.67. The firm has a market cap of $52.45 billion, a P/E ratio of 35.55, a P/E/G ratio of 2.47 and a beta of 0.35. The firm has a 50-day simple moving average of $223.21 and a 200-day simple moving average of $236.10.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its quarterly earnings results 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 business had revenue of $580.90 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 EPS. On average, research analysts predict that Franco-Nevada Corporation will post 7.54 EPS 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 0.6%. Franco-Nevada's dividend payout ratio is currently 23.01%.

About Franco-Nevada

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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