30,802 Shares in Franco-Nevada Corporation $FNV Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 30,802 shares of the basic materials company’s stock, valued at approximately $7,610,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PFG Investments LLC lifted its position in shares of Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after buying an additional 46 shares during the last quarter. Composition Wealth LLC grew its position in shares of Franco-Nevada by 0.8% in the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after buying an additional 49 shares during the last quarter. Clark Capital Management Group Inc. grew its position in shares of Franco-Nevada by 1.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 50 shares during the last quarter. Syon Capital LLC raised its stake in shares of Franco-Nevada by 2.1% during the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 51 shares in the last quarter. Finally, Guardian Partners Inc. raised its stake in shares of Franco-Nevada by 3.2% during the 4th quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 52 shares in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Down 0.2%

NYSE:FNV opened at $217.24 on Friday. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The company has a market cap of $41.90 billion, a PE ratio of 30.60, a P/E/G ratio of 1.89 and a beta of 0.36. The company’s 50 day moving average is $224.52 and its two-hundred day moving average is $237.01.

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, topping the consensus estimate of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.07 earnings per share. As a group, analysts expect that Franco-Nevada Corporation will post 8.85 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. TD Securities raised 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. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. TD Cowen upgraded 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 research note on Wednesday, May 20th. Finally, Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $268.00.

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.