Allspring Global Investments Holdings LLC Has $32.73 Million Stake in Franco-Nevada Corporation $FNV

Allspring Global Investments Holdings LLC raised its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 15.7% in the 1st quarter, HoldingsChannel reports. The firm owned 132,465 shares of the basic materials company’s stock after purchasing an additional 18,000 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Franco-Nevada were worth $32,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares during the last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter valued at about $25,000. Private Trust Co. NA acquired a new position in Franco-Nevada during the 4th quarter worth about $29,000. Ascentis Independent Advisors bought a new stake in Franco-Nevada during the 1st quarter worth about $39,000. Finally, Navalign LLC bought a new stake in Franco-Nevada during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.0%

FNV stock opened at $200.81 on Monday. The business’s fifty day moving average is $218.63 and its 200-day moving average is $236.61. The company has a market cap of $38.73 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.69 and a beta of 0.36. Franco-Nevada Corporation has a twelve month low of $154.11 and a twelve month 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, topping analysts’ consensus estimates of $2.09 by $0.29. The business had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.07 earnings per share. Research analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. The ex-dividend date 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 24.79%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Royal Bank Of Canada lowered their price target on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Bank of America dropped their price objective on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. 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 stock. According to data from MarketBeat, the company presently has an average 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.