Crescent Grove Advisors LLC Purchases 8,876 Shares of Franco-Nevada Corporation $FNV

Crescent Grove Advisors LLC lifted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 376.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,233 shares of the basic materials company’s stock after acquiring an additional 8,876 shares during the quarter. Crescent Grove Advisors LLC’s holdings in Franco-Nevada were worth $2,775,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FNV. Addenda Capital Inc. increased 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. Scharf Investments LLC raised its holdings in shares of Franco-Nevada by 15.8% in the fourth 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 last quarter. PKO Investment Management Joint Stock Co lifted its position in Franco-Nevada by 11.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after buying an additional 7,150 shares in the last quarter. Annex Advisory Services LLC lifted its position in Franco-Nevada by 4.9% during the 4th quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock worth $41,450,000 after buying an additional 9,336 shares in the last quarter. Finally, Oxbow Advisors LLC grew its holdings in Franco-Nevada by 76.0% during the 4th quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock worth $7,324,000 after acquiring an additional 15,260 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Franco-Nevada Trading Up 1.3%

Shares of NYSE:FNV opened at $200.81 on Friday. The stock has a market capitalization of $38.73 billion, a P/E ratio of 28.28, a P/E/G ratio of 1.70 and a beta of 0.36. Franco-Nevada Corporation has a 1-year low of $154.11 and a 1-year high of $285.67. The business has a 50-day moving average price of $218.63 and a two-hundred day moving average price of $236.41.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its 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%. The company’s revenue was up 76.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.07 EPS. As a group, equities analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

Analysts Set New Price Targets

FNV has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. National Bank Financial upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a report on Wednesday, May 20th. Finally, TD upgraded shares of 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 report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.40.

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.