Osmosis Investment Management UK Ltd Invests $773,000 in Franco-Nevada Corporation $FNV

Key Points

• Osmosis Investment Management purchased 3,704 Franco-Nevada shares worth approximately $773,000 in the second quarter. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada reported quarterly EPS of $1.81, below the $1.95 analyst consensus, while revenue rose 57.3% year over year to $580.9 million. The stock opened at $270.07, near its one-year high of $285.67.
• The company declared a quarterly dividend of $0.44 per share, representing an annualized payout of $1.76 and a 0.7% yield. Analysts maintain a Moderate Buy consensus rating with an average price target of $273.40.

Osmosis Investment Management UK Ltd purchased a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,704 shares of the basic materials company's stock, valued at approximately $773,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Transamerica Financial Advisors LLC purchased a new position in Franco-Nevada during the 4th quarter valued at about $25,000. Ascentis Independent Advisors bought a new stake in Franco-Nevada during the first quarter worth about $39,000. Navalign LLC purchased a new stake in Franco-Nevada in the fourth quarter worth about $34,000. Global Retirement Partners LLC purchased a new stake in Franco-Nevada in the second quarter worth about $35,000. Finally, Dunhill Financial LLC bought a new position in shares of Franco-Nevada during the second quarter valued at approximately $36,000. 77.06% of the stock is currently owned by hedge funds and other institutional investors.

Franco-Nevada Stock Performance

NYSE FNV opened at $270.07 on Tuesday. Franco-Nevada Corporation has a one year low of $181.50 and a one year high of $285.67. The stock has a 50-day moving average of $220.53 and a 200 day moving average of $235.28. The company has a market capitalization of $52.09 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.42 and a beta of 0.35.

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 earnings per share for the quarter, missing analysts' consensus estimates 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 quarterly revenue was up 57.3% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. On average, equities analysts predict 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. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada's payout ratio is presently 23.01%.

Analysts Set New Price Targets

Several research firms have recently issued reports on FNV. TD raised Franco-Nevada from a "hold" rating to a "buy" rating and lowered their price target for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Bank of America cut their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. UBS Group reduced their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Royal Bank Of Canada dropped their target price on shares of Franco-Nevada from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen cut shares of Franco-Nevada from a "buy" rating to a "hold" rating in a report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and an average price target of $273.40.

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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