Hamilton Capital LLC Makes New $648,000 Investment in Franco-Nevada Corporation $FNV

Hamilton Capital LLC purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,107 shares of the basic materials company’s stock, valued at approximately $648,000.

Several other institutional investors have also recently made changes to their positions in FNV. Crescent Grove Advisors LLC bought a new stake in shares of Franco-Nevada in the 4th quarter valued at about $489,000. PKO Investment Management Joint Stock Co lifted its position in shares of Franco-Nevada by 11.4% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after purchasing an additional 7,150 shares during the period. Markel Group Inc. boosted its stake in shares of Franco-Nevada by 9.2% during the second quarter. Markel Group Inc. now owns 773,500 shares of the basic materials company’s stock valued at $161,228,000 after purchasing an additional 65,000 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of Franco-Nevada by 5.1% during the first quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock valued at $120,146,000 after purchasing an additional 23,587 shares in the last quarter. Finally, Oxbow Advisors LLC increased its holdings in Franco-Nevada by 76.0% during the fourth quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock valued at $7,324,000 after buying an additional 15,260 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 1.7%

Shares of Franco-Nevada stock opened at $271.94 on Friday. The firm’s 50 day moving average price is $223.21 and its 200-day moving average price is $236.10. Franco-Nevada Corporation has a 52-week low of $181.50 and a 52-week high of $285.67. The company has a market cap of $52.45 billion, a P/E ratio of 35.55, a PEG ratio of 2.47 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 EPS 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 the consensus estimate of $616.66 million. During the same quarter last year, the firm earned $1.24 EPS. The company’s revenue was up 57.3% compared to the same quarter last year. As a group, equities research analysts forecast that Franco-Nevada Corporation will post 7.54 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be given 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 dividend yield of 0.6%. Franco-Nevada’s dividend payout ratio is presently 23.01%.

Analysts Set New Price Targets

FNV has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Royal Bank Of Canada dropped their target price on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Jefferies Financial Group cut their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Bank of America reduced their price target on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $273.40.

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.