Swiss Life Asset Management Ltd Has $4.64 Million Position in Franco-Nevada Corporation $FNV

Key Points

• Swiss Life Asset Management increased its Franco-Nevada stake by 32.7% in the second quarter, bringing its holdings to 22,292 shares valued at approximately $4.64 million. Institutional investors collectively own 77.06% of the company.
• Franco-Nevada’s second-quarter revenue rose 57.3% year over year to $580.9 million, but earnings of $1.81 per share and revenue both missed analyst expectations. The stock opened at $231.82, down 1.7%.
• The company declared a quarterly dividend of $0.44 per share, equivalent to $1.76 annually and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $273.40.

Swiss Life Asset Management Ltd boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV by 32.7% in the second quarter, according to its most recent filing with the SEC. The firm owned 22,292 shares of the basic materials company's stock after acquiring an additional 5,499 shares during the period. Swiss Life Asset Management Ltd's holdings in Franco-Nevada were worth $4,638,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Burkett Asset Management Ltd raised its position in shares of Franco-Nevada by 19.5% during the 2nd quarter. Burkett Asset Management Ltd now owns 12,550 shares of the basic materials company's stock valued at $2,614,000 after acquiring an additional 2,050 shares during the last quarter. Atria Investments Inc boosted its position in shares of Franco-Nevada by 6.3% in the 2nd quarter. Atria Investments Inc now owns 5,798 shares of the basic materials company's stock worth $1,209,000 after purchasing an additional 342 shares during the last quarter. Creative Financial Designs Inc. ADV boosted its position in shares of Franco-Nevada by 5.1% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 1,978 shares of the basic materials company's stock worth $412,000 after purchasing an additional 96 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Franco-Nevada by 1.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,360 shares of the basic materials company's stock worth $2,993,000 after purchasing an additional 171 shares during the period. Finally, TD Waterhouse Canada Inc. grew its stake in shares of Franco-Nevada by 5.1% during the second quarter. TD Waterhouse Canada Inc. now owns 817,307 shares of the basic materials company's stock worth $172,066,000 after purchasing an additional 39,935 shares during the period. Institutional investors own 77.06% of the company's stock.

Franco-Nevada Stock Down 1.7%

FNV opened at $231.82 on Friday. Franco-Nevada Corporation has a 12 month low of $173.39 and a 12 month high of $285.67. The company has a fifty day simple moving average of $215.37 and a 200 day simple moving average of $235.32. The stock has a market cap of $44.71 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.99 and a beta of 0.35.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last posted its 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 for the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.98% and a net margin of 63.79%.The business's revenue was up 57.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.24 earnings per share. On average, equities research analysts expect that Franco-Nevada Corporation will post 8.23 earnings per share 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. Stockholders of record on Thursday, September 10th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada's dividend payout ratio (DPR) is currently 23.01%.

Key Stories Impacting Franco-Nevada

Here are the key news stories impacting Franco-Nevada this week:

• Positive Sentiment: Second-quarter revenue increased 57.3% year over year to approximately $580.9 million, supported by higher precious-metals and oil prices. Gold’s continued rally could further benefit Franco-Nevada’s royalty and streaming portfolio. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y
• Positive Sentiment: MarketBeat noted that rising gold prices, analyst price targets and technical indicators point to potential additional upside for FNV despite the quarterly miss. Franco-Nevada Earnings: Gold Is Rallying, But Does the Stock Even Care?
• Positive Sentiment: Franco-Nevada declared a quarterly dividend of $0.44 per share, payable September 24 to shareholders of record September 10. The dividend provides continued income support, although the indicated yield is approximately 0.7%.
• Neutral Sentiment: Zacks Research upgraded Franco-Nevada’s rating from “strong sell” to “hold,” indicating a less negative view but not an outright bullish recommendation. Zacks.com
• Negative Sentiment: Second-quarter adjusted earnings per share came in at $1.81, below the $1.95 consensus estimate, while revenue also missed expectations of approximately $616.7 million. Contracting margins added to investor concerns despite the sharp year-over-year growth. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group dropped their price objective on Franco-Nevada from $310.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Wall Street Zen lowered Franco-Nevada from a "buy" rating to a "hold" rating in a research report on Monday, June 1st. TD raised Franco-Nevada from a "hold" rating to a "buy" rating and lowered their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. National Bank Financial upgraded shares of Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, May 13th. Finally, Scotiabank cut their price target on shares of Franco-Nevada from $290.00 to $274.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Franco-Nevada has a consensus rating of "Moderate Buy" and a consensus target price 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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