2,790 Shares in Franco-Nevada Corporation $FNV Bought by 111 Capital

111 Capital acquired a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,790 shares of the basic materials company’s stock, valued at approximately $578,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after buying an additional 64 shares during the last quarter. Burkett Financial Services LLC bought a new stake in Franco-Nevada during the 3rd quarter valued at $28,000. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the fourth quarter worth $29,000. Navalign LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth $34,000. Finally, Stephens Consulting LLC bought a new position in Franco-Nevada in the fourth quarter valued at $36,000. 77.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FNV shares. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their target price for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. Scotiabank upped their price target on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.00.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $218.43 on Friday. The company’s fifty day simple moving average is $239.79 and its 200-day simple moving average is $235.26. The stock has a market capitalization of $42.13 billion, a PE ratio of 30.76, a P/E/G ratio of 1.91 and a beta of 0.34. Franco-Nevada Corporation has a 1-year low of $152.89 and a 1-year high of $285.67.

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 anticipate that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s dividend payout ratio is presently 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.