Moran Wealth Management LLC Increases Position in Franco-Nevada Corporation $FNV

Moran Wealth Management LLC grew its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 31.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,769 shares of the basic materials company’s stock after purchasing an additional 3,312 shares during the period. Moran Wealth Management LLC’s holdings in Franco-Nevada were worth $3,402,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FNV. Legal & General Group Plc lifted its stake in Franco-Nevada by 6.0% during the third quarter. Legal & General Group Plc now owns 986,672 shares of the basic materials company’s stock worth $219,665,000 after purchasing an additional 55,954 shares in the last quarter. Addenda Capital Inc. grew its stake in shares of Franco-Nevada by 88.1% in the fourth quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock valued at $42,211,000 after buying an additional 95,405 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in shares of Franco-Nevada in the fourth quarter valued at $489,000. Mackenzie Financial Corp raised its holdings in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock valued at $525,925,000 after buying an additional 1,020,509 shares during the period. Finally, Scharf Investments LLC raised its holdings in shares of Franco-Nevada by 15.8% in the 4th quarter. Scharf Investments LLC now owns 692,209 shares of the basic materials company’s stock valued at $143,484,000 after buying an additional 94,465 shares during the period. 77.06% of the stock is owned by institutional investors.

Franco-Nevada Stock Performance

Shares of FNV opened at $217.24 on Monday. The stock has a market capitalization of $41.90 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.89 and a beta of 0.36. The company’s fifty day moving average is $224.52 and its two-hundred day moving average is $237.18. 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 data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $634.43 million. During the same quarter last year, the firm earned $1.07 earnings per share. The firm’s revenue was up 76.6% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were given a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is currently 24.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FNV shares. HC Wainwright reiterated a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a report on Wednesday, May 13th. UBS Group cut their price objective on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and cut their price objective for the stock from $292.00 to $291.00 in a research report on Wednesday, May 20th. Scotiabank increased their price objective on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research note on Thursday, May 14th. Finally, Weiss Ratings lowered Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $268.00.

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.