Oak Harvest Investment Services Acquires New Holdings in Franco-Nevada Corporation $FNV

Oak Harvest Investment Services bought a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the basic materials company’s stock, valued at approximately $1,042,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Transamerica Financial Advisors LLC acquired a new position in shares of Franco-Nevada during the 4th quarter worth about $25,000. Private Trust Co. NA bought a new stake in shares of Franco-Nevada in the 4th quarter worth approximately $29,000. Ascentis Independent Advisors acquired a new stake in shares of Franco-Nevada during the 1st quarter valued at about $39,000. Navalign LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter valued at about $34,000. Finally, Quattro Advisors LLC bought a new stake in Franco-Nevada in the fourth quarter valued at $36,000. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada News Roundup

Here are the key news stories impacting Franco-Nevada this week:

• Positive Sentiment: Second-quarter revenue increased 57.3% year over year to approximately $580.9 million, supported by higher precious-metals and oil prices. Gold’s continued rally could further benefit Franco-Nevada’s royalty and streaming portfolio. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y
• Positive Sentiment: MarketBeat noted that rising gold prices, analyst price targets and technical indicators point to potential additional upside for FNV despite the quarterly miss. Franco-Nevada Earnings: Gold Is Rallying, But Does the Stock Even Care?
• Positive Sentiment: Franco-Nevada declared a quarterly dividend of $0.44 per share, payable September 24 to shareholders of record September 10. The dividend provides continued income support, although the indicated yield is approximately 0.7%.
• Neutral Sentiment: Zacks Research upgraded Franco-Nevada’s rating from “strong sell” to “hold,” indicating a less negative view but not an outright bullish recommendation. Zacks.com
• Negative Sentiment: Second-quarter adjusted earnings per share came in at $1.81, below the $1.95 consensus estimate, while revenue also missed expectations of approximately $616.7 million. Contracting margins added to investor concerns despite the sharp year-over-year growth. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. UBS Group reduced their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada cut their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Price Performance

Shares of FNV stock opened at $231.82 on Friday. The company has a fifty day moving average price of $215.37 and a two-hundred day moving average price of $235.32. Franco-Nevada Corporation has a one year low of $173.39 and a one year high of $285.67. The stock has a market cap of $44.71 billion, a P/E ratio of 30.30, a P/E/G ratio of 1.99 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a return on equity of 18.98% and a net margin of 63.79%.The firm had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. During the same quarter in the prior year, the firm earned $1.24 earnings per share. The firm’s revenue for the quarter was up 57.3% on a year-over-year basis. As a group, equities research analysts anticipate that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

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

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.