Enclave Advisors LLC Purchases Shares of 5,500 Franco-Nevada Corporation $FNV

Enclave Advisors LLC acquired a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,500 shares of the basic materials company’s stock, valued at approximately $1,140,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Franco-Nevada during the second quarter valued at approximately $460,218,000. Mackenzie Financial Corp lifted its position in Franco-Nevada by 76.0% in the third quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after purchasing an additional 1,020,509 shares during the period. First Eagle Investment Management LLC lifted its position in Franco-Nevada by 26.4% in the third 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 during the period. Arrowstreet Capital Limited Partnership boosted its stake in Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock worth $528,289,000 after buying an additional 838,853 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Franco-Nevada by 110.6% during the second quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock worth $147,859,000 after buying an additional 473,697 shares in the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of a number of recent research reports. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, March 20th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. UBS Group reissued a “buy” rating and issued a $310.00 price target on shares of Franco-Nevada in a research report on Friday, January 30th. Finally, Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $225.00 to $250.00 in a research note on Wednesday, December 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Trading Up 2.4%

NYSE FNV opened at $233.45 on Friday. Franco-Nevada Corporation has a 1-year low of $140.03 and a 1-year high of $285.67. The company has a 50 day moving average of $252.02 and a 200-day moving average of $222.52. The firm has a market cap of $45.01 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 2.44 and a beta of 0.45.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.67 by $0.18. The business had revenue of $597.30 million for the quarter, compared to the consensus estimate of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.Franco-Nevada’s revenue was up 86.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 EPS. On average, analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th were paid a $0.44 dividend. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Thursday, March 12th. Franco-Nevada’s payout ratio is presently 30.56%.

Franco-Nevada Company 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.