Jupiter Topco LLC Takes Position in Franco-Nevada Corporation $FNV

Jupiter Topco LLC bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 151,252 shares of the basic materials company’s stock, valued at approximately $31,523,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Composition Wealth LLC lifted its stake in Franco-Nevada by 0.8% in the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares in the last quarter. Clark Capital Management Group Inc. grew its stake in Franco-Nevada by 1.0% during the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 50 shares in the last quarter. Syon Capital LLC grew its stake in Franco-Nevada by 2.1% during the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 51 shares in the last quarter. PFG Investments LLC increased its holdings in shares of Franco-Nevada by 0.7% in the 1st quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock valued at $1,782,000 after purchasing an additional 52 shares during the period. Finally, Guardian Partners Inc. lifted its position in shares of Franco-Nevada by 3.2% in the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $266.33 on Friday. The company has a market capitalization of $51.37 billion, a PE ratio of 34.81, a P/E/G ratio of 2.51 and a beta of 0.35. Franco-Nevada Corporation has a 52 week low of $181.50 and a 52 week high of $285.67. The company’s fifty day moving average is $224.15 and its 200-day moving average is $236.31.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data 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). Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same period in the previous year, the business posted $1.24 EPS. The business’s quarterly revenue was up 57.3% on a year-over-year basis. On average, analysts forecast that Franco-Nevada Corporation will post 7.54 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend payout ratio is currently 23.01%.

Analyst Ratings Changes

A number of research analysts recently commented on FNV shares. Jefferies Financial Group lowered their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a research report on Monday, July 6th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a research report on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and a consensus price target of $273.40.

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.