Varma Mutual Pension Insurance Co Buys Shares of 68,600 Franco-Nevada Corporation $FNV

Key Points

• Varma Mutual Pension Insurance Co bought a new stake of 68,600 shares of Franco‑Nevada in the fourth quarter, valued at approximately $14.24 million.
• Franco‑Nevada topped quarterly expectations, reporting $1.85 EPS versus a $1.67 consensus and revenue of $597.3M (up 86.1% year‑over‑year) with a 61.0% net margin.
• Institutional ownership stands at 77.06% with multiple funds initiating or adding to positions (AQR, NewEdge, Intech, Acadian, Marshall Wace), and analysts maintain a consensus Moderate Buy rating with a $257.25 price target.

Varma Mutual Pension Insurance Co bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV - Free Report) TSE: FNV in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 68,600 shares of the basic materials company's stock, valued at approximately $14,238,000.

A number of other institutional investors and hedge funds have also bought and sold shares of FNV. AQR Capital Management LLC purchased a new position in shares of Franco-Nevada in the 1st quarter valued at $241,000. NewEdge Advisors LLC increased its holdings in shares of Franco-Nevada by 16.7% in the 1st quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company's stock valued at $1,038,000 after acquiring an additional 943 shares during the period. Intech Investment Management LLC increased its holdings in shares of Franco-Nevada by 118.3% in the 1st quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company's stock valued at $1,460,000 after acquiring an additional 5,032 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Franco-Nevada by 800.0% in the 1st quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company's stock valued at $424,000 after acquiring an additional 2,400 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Franco-Nevada in the 2nd quarter valued at $1,477,000. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock opened at $223.88 on Tuesday. Franco-Nevada Corporation has a 1-year low of $152.89 and a 1-year high of $285.67. The stock's fifty day moving average price is $252.85 and its 200 day moving average price is $229.51. The company has a market cap of $43.18 billion, a price-to-earnings ratio of 38.87, a price-to-earnings-growth ratio of 2.18 and a beta of 0.34.

Franco-Nevada (NYSE:FNV - Get Free Report) TSE: FNV last announced its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The firm had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. During the same period in the previous year, the business earned $0.95 EPS. The firm's revenue for the quarter was up 86.1% on a year-over-year basis. As a group, equities research analysts anticipate that Franco-Nevada Corporation will post 7.92 earnings per share for the current year.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of analyst reports. Zacks Research downgraded Franco-Nevada from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 31st. Weiss Ratings upgraded Franco-Nevada from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, March 20th. Canaccord Genuity Group upgraded Franco-Nevada from a "hold" rating to a "buy" rating in a report on Wednesday, April 29th. Scotiabank lifted their price target on Franco-Nevada from $283.00 to $286.00 and gave the company a "sector perform" rating in a report on Monday, March 16th. Finally, HC Wainwright lifted their price target on Franco-Nevada from $285.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, March 12th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.25.

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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