OMERS ADMINISTRATION Corp Makes New Investment in Franco-Nevada Corporation $FNV

Key Points

• OMERS Administration Corp. acquired 124,740 Franco-Nevada shares worth approximately $26.0 million, representing a 0.06% stake. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly earnings of $1.81 per share, below the $1.95 analyst consensus, while revenue rose 57.3% year over year to $580.9 million.
• The company declared a quarterly dividend of $0.44 per share, or $1.76 annualized, yielding about 0.7%; analysts maintain a “Moderate Buy” consensus with an average price target of $273.40.

OMERS ADMINISTRATION Corp bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 124,740 shares of the basic materials company's stock, valued at approximately $26,019,000. OMERS ADMINISTRATION Corp owned 0.06% of Franco-Nevada 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 the company. Vanguard Group Inc. boosted its position in shares of Franco-Nevada by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company's stock valued at $1,726,741,000 after purchasing an additional 113,916 shares in the last quarter. Van ECK Associates Corp raised its holdings in Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company's stock worth $1,542,402,000 after purchasing an additional 842,132 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company's stock worth $1,062,037,000 after purchasing an additional 1,074,257 shares in the last quarter. EdgePoint Investment Group Inc. lifted its position in Franco-Nevada by 3.3% during the first quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company's stock valued at $857,196,000 after buying an additional 110,222 shares during the period. Finally, Royal Bank of Canada lifted its position in Franco-Nevada by 10.2% during the fourth quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company's stock valued at $582,177,000 after buying an additional 260,793 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Up 0.0%

Shares of NYSE FNV opened at $265.78 on Monday. Franco-Nevada Corporation has a twelve month low of $180.32 and a twelve month high of $285.67. The firm has a market cap of $51.26 billion, a P/E ratio of 34.74, a PEG ratio of 2.42 and a beta of 0.35. The company has a 50 day moving average of $219.57 and a 200 day moving average of $235.06.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last issued its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analysts' expectations of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business's revenue for the quarter was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 earnings per share. As a group, equities analysts expect that Franco-Nevada Corporation will post 7.62 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be given 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 is 23.01%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FNV. HC Wainwright reaffirmed a "buy" rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. UBS Group lowered their price target on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Wall Street Zen lowered shares of Franco-Nevada from a "buy" rating to a "hold" rating in a research note on Monday, June 1st. TD Securities upgraded shares of 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. Finally, Jefferies Financial Group decreased their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a "hold" rating for the company in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada currently 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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