Crescent Grove Advisors LLC Makes New Investment in Franco-Nevada Corporation $FNV

Crescent Grove Advisors LLC acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 2,357 shares of the basic materials company’s stock, valued at approximately $489,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 64 shares during the period. Burkett Financial Services LLC bought a new position in shares of Franco-Nevada in the third quarter worth approximately $28,000. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the fourth quarter worth approximately $29,000. Navalign LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter worth $34,000. Finally, Stephens Consulting LLC purchased a new stake in shares of Franco-Nevada in the fourth quarter worth $36,000. 77.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. 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. Scotiabank increased their price target on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Finally, TD upgraded Franco-Nevada from a “hold” rating to a “buy” rating and cut their target price for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.00.

Franco-Nevada Stock Performance

Shares of NYSE:FNV opened at $236.34 on Friday. The firm has a fifty day moving average price of $240.10 and a 200 day moving average price of $235.38. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The firm has a market cap of $45.58 billion, a price-to-earnings ratio of 33.29, a P/E/G ratio of 2.00 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. The company had revenue of $650.70 million for 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%. Franco-Nevada’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 EPS. As a group, research analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, June 11th. Franco-Nevada’s payout ratio is 24.79%.

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.