Tacita Capital Inc Purchases Shares of 6,521 Franco-Nevada Corporation $FNV

Key Points

• Tacita Capital purchased 6,521 shares of Franco-Nevada worth approximately $1.36 million, making the position about 0.7% of its portfolio. Institutional investors collectively own 77.06% of the company.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $273.40, despite several recent target-price cuts.
• Franco-Nevada reported quarterly EPS of $1.81, below the $1.95 estimate, while revenue rose 57.3% year over year to $580.9 million. The company also announced a quarterly dividend of $0.44 per share, representing a 0.7% yield.

Tacita Capital Inc bought a new stake in Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 6,521 shares of the basic materials company's stock, valued at approximately $1,358,000. Franco-Nevada accounts for about 0.7% of Tacita Capital Inc's portfolio, making the stock its 29th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new stake in shares of Franco-Nevada during the fourth quarter valued at approximately $25,000. Private Trust Co. NA purchased a new position in shares of Franco-Nevada in the fourth quarter valued at $29,000. Ascentis Independent Advisors purchased a new position in shares of Franco-Nevada in the first quarter valued at $39,000. Navalign LLC acquired a new stake in Franco-Nevada during the 4th quarter valued at $34,000. Finally, Global Retirement Partners LLC purchased a new stake in Franco-Nevada during the 2nd quarter worth $35,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. TD upgraded Franco-Nevada from a "hold" rating to a "buy" rating and lowered their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Bank of America cut their target price on Franco-Nevada from $276.00 to $238.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. HC Wainwright reiterated a "buy" rating and set a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. National Bank Financial raised shares of Franco-Nevada from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, May 13th. Finally, Scotiabank dropped their price target on shares of 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. Eleven 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 a consensus target price of $273.40.

Franco-Nevada Stock Up 8.0%

Shares of NYSE:FNV opened at $251.54 on Thursday. The company's 50-day moving average price is $217.44 and its 200 day moving average price is $234.66. The company has a market cap of $48.51 billion, a PE ratio of 32.88, a P/E/G ratio of 2.13 and a beta of 0.35. Franco-Nevada Corporation has a fifty-two week low of $173.84 and a fifty-two week high of $285.67.

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 EPS 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 analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm's revenue was up 57.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.24 earnings per share. As a group, equities analysts anticipate that Franco-Nevada Corporation will post 7.6 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a yield of 0.7%. Franco-Nevada's payout ratio is presently 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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