2,727 Franco-Nevada Corporation $FNV Shares Purchased by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC increased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,885 shares of the basic materials company’s stock after acquiring an additional 2,727 shares during the period. Franco-Nevada makes up about 4.3% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Euro Pacific Asset Management LLC owned about 0.13% of Franco-Nevada worth $66,421,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. grew its stake in Franco-Nevada by 3.3% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock valued at $857,196,000 after purchasing an additional 110,222 shares during the last quarter. Deutsche Bank AG purchased a new position in shares of Franco-Nevada in the second quarter worth about $372,435,000. Canada Pension Plan Investment Board purchased a new position in shares of Franco-Nevada in the second quarter worth about $254,515,000. Amundi lifted its holdings in shares of Franco-Nevada by 4.4% during the first quarter. Amundi now owns 1,191,417 shares of the basic materials company’s stock worth $294,340,000 after purchasing an additional 50,455 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Franco-Nevada during the second quarter worth about $193,879,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 0.8%

Shares of NYSE FNV traded down $1.91 during midday trading on Tuesday, reaching $243.84. 310,692 shares of the stock were exchanged, compared to its average volume of 840,582. The firm has a market cap of $47.03 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 2.26 and a beta of 0.36. Franco-Nevada Corporation has a twelve month low of $181.50 and a twelve month high of $285.67. The firm has a 50-day simple moving average of $252.39 and a two-hundred day simple moving average of $236.11.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The business’s revenue for the quarter was up 57.3% on a year-over-year basis. Research analysts expect that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a $0.44 dividend. The ex-dividend date was Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio is 23.01%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FNV shares. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Jefferies Financial Group decreased their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Scotiabank decreased their price objective 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. UBS Group dropped their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Royal Bank Of Canada increased their price objective on shares of Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 16th. Nine analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $267.80.

Franco-Nevada Profile

Franco-Nevada Corporation (NYSE:FNV) is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and natural resource companies in exchange for the right to receive a portion of future production or revenue. This business model gives Franco-Nevada exposure to commodity production while generally limiting its direct responsibility for operating and capital costs.

The company holds a diversified portfolio of royalties, streams and other interests tied primarily to gold, as well as silver, platinum-group metals, iron ore and other minerals.