Hillsdale Investment Management Inc. Acquires 22,356 Shares of Franco-Nevada Corporation $FNV

Hillsdale Investment Management Inc. increased its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 97.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,296 shares of the basic materials company’s stock after acquiring an additional 22,356 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Franco-Nevada were worth $11,213,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Franco-Nevada by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock valued at $1,726,741,000 after purchasing an additional 113,916 shares during the period. Van ECK Associates Corp lifted its position in shares of 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. First Eagle Investment Management LLC boosted its stake in shares of Franco-Nevada by 26.5% during 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. Royal Bank of Canada boosted its stake in shares of Franco-Nevada by 10.2% during the 4th quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock valued at $582,177,000 after purchasing an additional 260,793 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Franco-Nevada during the fourth quarter valued at about $578,577,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FNV. Royal Bank Of Canada decreased their price target on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday. TD raised 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 report on Wednesday, May 20th. Jefferies Financial Group reduced their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Finally, Weiss Ratings cut Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.00.

Franco-Nevada Price Performance

NYSE:FNV opened at $200.31 on Tuesday. The firm’s 50-day moving average price is $220.94 and its 200-day moving average price is $236.98. The company has a market capitalization of $38.63 billion, a PE ratio of 28.21, a P/E/G ratio of 1.74 and a beta of 0.36. Franco-Nevada Corporation has a 1-year low of $152.89 and a 1-year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping 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 company had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. During the same period last year, the business earned $1.07 EPS. Franco-Nevada’s quarterly revenue was up 76.6% compared to the same quarter last year. Equities analysts anticipate that Franco-Nevada Corporation will post 8.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. 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 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is currently 24.79%.

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.