Capital Research Global Investors Acquires 639,493 Shares of Franco-Nevada Corporation $FNV

Capital Research Global Investors increased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 100.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,277,889 shares of the basic materials company’s stock after acquiring an additional 639,493 shares during the period. Capital Research Global Investors owned about 0.66% of Franco-Nevada worth $264,882,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. PFG Investments LLC grew its holdings in shares of Franco-Nevada by 0.6% in the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock worth $1,484,000 after acquiring an additional 46 shares during the period. Composition Wealth LLC grew its holdings in shares of Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Franco-Nevada by 27.6% in the third quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 54 shares during the period. Lafayette Investments Inc. grew its holdings in shares of Franco-Nevada by 2.4% in the third quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 64 shares during the period. Institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on FNV shares. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and cut their price target for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Scotiabank boosted their price target on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. Finally, TD Securities raised 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. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Stock Down 0.1%

Shares of Franco-Nevada stock opened at $218.43 on Monday. The stock’s 50-day simple moving average is $239.79 and its 200-day simple moving average is $235.55. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67. The company has a market capitalization of $42.13 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 1.91 and a beta of 0.34.

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 the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. During the same period in the previous year, the business earned $1.07 earnings per share. The business’s revenue was up 76.6% on a year-over-year basis. On average, equities analysts expect that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s 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.