Clearbridge Investments LLC Has $134.19 Million Stock Position in Franco-Nevada Corporation $FNV

Clearbridge Investments LLC lowered its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 647,433 shares of the basic materials company’s stock after selling 21,950 shares during the quarter. Clearbridge Investments LLC owned approximately 0.34% of Franco-Nevada worth $134,189,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of 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 purchasing an additional 64 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $28,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada during the 4th quarter worth about $29,000. Navalign LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth about $34,000. Finally, Stephens Consulting LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth about $36,000. 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 analyst reports. TD upgraded shares of 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 report on Wednesday, May 20th. Scotiabank increased their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, HC Wainwright reissued a “buy” rating and set a $305.00 price objective on shares of Franco-Nevada in a report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Stock Down 0.1%

Shares of NYSE:FNV opened at $218.43 on Monday. Franco-Nevada Corporation has a 12 month low of $152.89 and a 12 month high of $285.67. The company’s 50-day moving average price is $239.79 and its two-hundred day moving average price is $235.55. The firm has a market cap of $42.13 billion, a P/E ratio of 30.76, a P/E/G ratio of 1.91 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The company’s revenue was up 76.6% on a year-over-year basis. As a group, equities analysts predict that Franco-Nevada Corporation will post 8.85 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is 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 is currently 24.79%.

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.