Healthcare of Ontario Pension Plan Trust Fund Boosts Holdings in Franco-Nevada Corporation $FNV

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1,381.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,612 shares of the basic materials company’s stock after buying an additional 123,658 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Franco-Nevada were worth $32,820,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Franco-Nevada during the 4th quarter worth about $578,577,000. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after purchasing an additional 1,074,257 shares in the last quarter. Van ECK Associates Corp raised its holdings in Franco-Nevada by 12.8% in the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the period. Capital Research Global Investors raised its holdings in Franco-Nevada by 100.2% in the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock worth $264,882,000 after purchasing an additional 639,493 shares during the period. Finally, Deutsche Bank AG boosted its position in Franco-Nevada by 30.7% during the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after purchasing an additional 443,839 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of research analyst reports. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Royal Bank Of Canada reduced their price objective on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research report on Wednesday, May 20th. Eleven research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Stock Performance

NYSE FNV opened at $215.06 on Monday. The stock’s fifty day moving average is $216.08 and its two-hundred day moving average is $236.66. The firm has a market capitalization of $41.48 billion, a P/E ratio of 30.29, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36. Franco-Nevada Corporation has a fifty-two week low of $157.18 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its 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 return on equity of 18.10% and a net margin of 65.12%.The company 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 business earned $1.07 EPS. The firm’s quarterly revenue was up 76.6% on a year-over-year basis. As a group, sell-side analysts forecast that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Dividend Announcement

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

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.