Ruffer LLP Purchases New Holdings in Franco-Nevada Corporation $FNV

Ruffer LLP bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 9,320 shares of the basic materials company’s stock, valued at approximately $2,078,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. MTM Investment Management LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter valued at $32,000. Smartleaf Asset Management LLC boosted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after buying an additional 168 shares in the last quarter. Golden State Wealth Management LLC grew its position in Franco-Nevada by 78.3% in the second quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 90 shares during the last quarter. CENTRAL TRUST Co raised its stake in Franco-Nevada by 590.9% during the second quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 195 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Franco-Nevada in the third quarter worth about $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the topic of a number of research analyst reports. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Monday, December 8th. Raymond James Financial increased their target price on Franco-Nevada from $218.00 to $234.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. Jefferies Financial Group restated a “hold” rating and set a $228.00 price target on shares of Franco-Nevada in a report on Sunday, December 7th. TD Securities lowered their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating for the company in a research note on Wednesday, November 5th. Finally, Royal Bank Of Canada upgraded shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $225.00 to $250.00 in a report on Wednesday, December 10th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Hold” and a consensus price target of $240.00.

Franco-Nevada Price Performance

Shares of FNV stock opened at $267.99 on Thursday. The stock has a market capitalization of $51.67 billion, a PE ratio of 56.18, a PEG ratio of 1.48 and a beta of 0.48. The business’s 50 day simple moving average is $219.60 and its 200 day simple moving average is $199.95. Franco-Nevada Corporation has a one year low of $130.05 and a one year high of $268.80.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. Franco-Nevada had a net margin of 59.48% and a return on equity of 13.94%. The firm had revenue of $487.70 million for the quarter, compared to the consensus estimate of $448.51 million. During the same quarter in the previous year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 76.9% on a year-over-year basis. As a group, research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 26th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, March 12th. Franco-Nevada’s payout ratio is currently 31.87%.

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.