Sei Investments Co. Makes New Investment in Franco-Nevada Corporation $FNV

Key Points

• Sei Investments initiated a Franco-Nevada position in the first quarter by purchasing 6,367 shares valued at approximately $1.57 million. Institutional investors collectively own 77.06% of the company.
• Analyst opinions remain generally positive, with 11 Buy, three Hold and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $273.40. However, several firms recently reduced their targets or ratings.
• Franco-Nevada reported quarterly EPS of $2.38, beating estimates of $2.09, while revenue rose 76.6% year over year to $650.7 million. Shares opened at $240.57, with a market capitalization of approximately $46.4 billion.

Sei Investments Co. bought a new position in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the 1st quarter, according to its most recent disclosure with the SEC. The firm bought 6,367 shares of the basic materials company's stock, valued at approximately $1,573,000.

Other large investors have also recently modified their holdings of the company. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada in the fourth quarter worth about $25,000. Private Trust Co. NA bought a new stake in Franco-Nevada during the 4th quarter valued at approximately $29,000. Ascentis Independent Advisors bought a new stake in Franco-Nevada during the 1st quarter valued at approximately $39,000. Navalign LLC purchased a new position in shares of Franco-Nevada during the 4th quarter worth approximately $34,000. Finally, Quattro Advisors LLC purchased a new position in shares of Franco-Nevada during the 4th quarter worth approximately $36,000. Institutional investors own 77.06% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on FNV. Scotiabank lowered their target price 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. Weiss Ratings cut Franco-Nevada from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, June 8th. TD Securities upgraded Franco-Nevada from a "hold" rating to a "buy" rating and set a $291.00 price objective for the company in a report on Wednesday, May 20th. Zacks Research lowered Franco-Nevada from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, TD Cowen upgraded shares of Franco-Nevada from a "hold" rating to a "buy" rating and dropped their target price for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Franco-Nevada presently has an average rating of "Moderate Buy" and an average target price of $273.40.

Franco-Nevada Trading Up 0.8%

NYSE FNV opened at $240.57 on Tuesday. Franco-Nevada Corporation has a 12 month low of $165.59 and a 12 month high of $285.67. The stock's fifty day moving average price is $215.22 and its 200-day moving average price is $235.73. The stock has a market cap of $46.40 billion, a P/E ratio of 33.88, a P/E/G ratio of 2.01 and a beta of 0.35.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the previous year, the firm earned $1.07 EPS. Franco-Nevada's quarterly revenue was up 76.6% compared to the same quarter last year. As a group, analysts forecast that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada 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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