Markel Group Inc. Has $161.23 Million Holdings in Franco-Nevada Corporation $FNV

Markel Group Inc. boosted its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,500 shares of the basic materials company’s stock after purchasing an additional 65,000 shares during the period. Franco-Nevada comprises 1.2% of Markel Group Inc.’s holdings, making the stock its 21st largest position. Markel Group Inc. owned approximately 0.40% of Franco-Nevada worth $161,228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at about $25,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada during the fourth quarter worth about $29,000. Ascentis Independent Advisors acquired a new position in shares of Franco-Nevada during the first quarter worth about $39,000. Navalign LLC bought a new position in shares of Franco-Nevada during the fourth quarter worth about $34,000. Finally, Quattro Advisors LLC bought a new position in shares of Franco-Nevada during the fourth quarter worth about $36,000. Institutional investors own 77.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FNV shares. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Bank of America decreased their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. UBS Group lowered 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, Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $234.50 on Friday. The company has a market cap of $45.23 billion, a price-to-earnings ratio of 30.65, a P/E/G ratio of 1.95 and a beta of 0.35. The firm has a 50-day moving average of $215.69 and a 200-day moving average of $235.31. Franco-Nevada Corporation has a one year low of $173.39 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. During the same period in the prior year, the firm posted $1.24 EPS. Franco-Nevada’s revenue was up 57.3% compared to the same quarter last year. As a group, sell-side analysts expect that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is currently 23.01%.

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.