Franco-Nevada Corporation $FNV is Tcfg Wealth Management LLC’s 4th Largest Position

Tcfg Wealth Management LLC lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 14.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,907 shares of the basic materials company’s stock after buying an additional 3,603 shares during the quarter. Franco-Nevada makes up about 2.7% of Tcfg Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Tcfg Wealth Management LLC’s holdings in Franco-Nevada were worth $7,141,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter worth about $25,000. Burkett Financial Services LLC bought a new stake in shares of Franco-Nevada in the 3rd quarter worth about $28,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at about $29,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $208.46 on Wednesday. The firm’s 50-day moving average is $226.71 and its 200-day moving average is $237.17. Franco-Nevada Corporation has a 1 year low of $152.89 and a 1 year high of $285.67. The company has a market cap of $40.20 billion, a P/E ratio of 29.36, a PEG ratio of 1.81 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 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 business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same period in the previous year, the business posted $1.07 EPS. The company’s quarterly revenue was up 76.6% on a year-over-year basis. As a group, sell-side analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on FNV shares. UBS Group decreased their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their price objective for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. HC Wainwright reiterated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Finally, Zacks Research downgraded Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and a consensus target price of $268.00.

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.