Louisbourg Investments Inc. Takes $7.37 Million Position in Franco-Nevada Corporation $FNV

Louisbourg Investments Inc. purchased a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 29,832 shares of the basic materials company’s stock, valued at approximately $7,372,000. Franco-Nevada accounts for about 1.3% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 20th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Addenda Capital Inc. boosted its stake in Franco-Nevada by 88.1% during the fourth quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock worth $42,211,000 after acquiring an additional 95,405 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Franco-Nevada by 6.0% during the third quarter. Legal & General Group Plc now owns 986,672 shares of the basic materials company’s stock valued at $219,665,000 after purchasing an additional 55,954 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Franco-Nevada during the fourth quarter valued at approximately $489,000. Mackenzie Financial Corp lifted its holdings in shares of Franco-Nevada by 76.0% during the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after purchasing an additional 1,020,509 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of Franco-Nevada by 26.4% in the 3rd quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company’s stock worth $901,092,000 after purchasing an additional 846,950 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 2.5%

Shares of FNV stock opened at $215.20 on Friday. Franco-Nevada Corporation has a 12-month low of $152.89 and a 12-month high of $285.67. The stock has a market capitalization of $41.50 billion, a P/E ratio of 30.31, a P/E/G ratio of 1.87 and a beta of 0.34. The firm’s 50 day moving average is $228.80 and its 200 day moving average is $236.87.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $1.07 earnings per share. Franco-Nevada’s revenue for the quarter was up 76.6% compared to the same quarter last year. As a group, equities analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 24.79%.

Analyst Upgrades and Downgrades

FNV has been the topic of several recent research reports. TD Cowen upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their price target for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. TD raised 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. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research note on Wednesday, May 20th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.00.

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.