Burney Co. Has $5.66 Million Stock Holdings in Franco-Nevada Corporation $FNV

Burney Co. trimmed its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 33.6% in the first quarter, Holdings Channel.com reports. The fund owned 22,890 shares of the basic materials company’s stock after selling 11,584 shares during the quarter. Burney Co.’s holdings in Franco-Nevada were worth $5,655,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FNV. GAMMA Investing LLC increased its stake in Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new position in Franco-Nevada during the fourth quarter worth about $25,000. Burkett Financial Services LLC bought a new position in Franco-Nevada during the third quarter worth about $28,000. Private Trust Co. NA acquired a new stake in Franco-Nevada during the fourth quarter valued at approximately $29,000. Finally, Smartleaf Asset Management LLC grew its stake in shares of Franco-Nevada by 600.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 168 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Price Performance

NYSE FNV opened at $212.79 on Tuesday. The firm has a market cap of $41.04 billion, a PE ratio of 29.97, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The stock’s 50 day simple moving average is $223.90 and its 200 day simple moving average is $237.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.09 by $0.29. The firm had revenue of $650.70 million during the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 EPS. As a group, 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 declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Thursday, June 11th. Franco-Nevada’s payout ratio is currently 24.79%.

Wall Street Analyst Weigh In

FNV has been the subject of a number of recent research reports. Jefferies Financial Group dropped their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a report on Monday. HC Wainwright reiterated a “buy” rating and issued a $305.00 price target on shares of Franco-Nevada in a research report on Wednesday, May 13th. Scotiabank increased their price objective on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research note on Thursday, May 14th. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a report on Wednesday, May 20th. Finally, Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Franco-Nevada presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.70.

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.