Cibc World Market Inc. Has $281.49 Million Stock Holdings in Franco-Nevada Corporation $FNV

Cibc World Market Inc. increased its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 24.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,357,815 shares of the basic materials company’s stock after purchasing an additional 264,913 shares during the quarter. Cibc World Market Inc. owned approximately 0.70% of Franco-Nevada worth $281,489,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. PFG Investments LLC increased its position in Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock worth $1,484,000 after purchasing an additional 46 shares in the last quarter. Composition Wealth LLC increased its position in Franco-Nevada by 0.8% during the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after purchasing an additional 49 shares in the last quarter. Smartleaf Asset Management LLC increased its position in Franco-Nevada by 27.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 54 shares in the last quarter. Lafayette Investments Inc. increased its position in Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 60 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Shares of NYSE FNV opened at $229.31 on Thursday. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The firm has a 50 day moving average price of $239.98 and a two-hundred day moving average price of $235.11. The stock has a market cap of $44.23 billion, a P/E ratio of 32.30, a price-to-earnings-growth ratio of 2.05 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. During the same period in the prior year, the company posted $1.07 EPS. The company’s revenue was up 76.6% on a year-over-year basis. Analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is 24.79%.

Analysts Set New Price Targets

FNV has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $271.00.

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.