Mitsubishi UFJ Trust & Banking Corp Grows Holdings in Franco-Nevada Corporation $FNV

Mitsubishi UFJ Trust & Banking Corp raised its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 27.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,000 shares of the basic materials company’s stock after buying an additional 3,400 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Franco-Nevada were worth $3,561,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MTM Investment Management LLC purchased a new stake in shares of Franco-Nevada during the second quarter valued at approximately $32,000. Smartleaf Asset Management LLC grew its stake in 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. Golden State Wealth Management LLC increased its position in shares of Franco-Nevada by 78.3% during the 2nd quarter. Golden State Wealth Management LLC now owns 205 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 90 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Franco-Nevada by 590.9% during the 2nd quarter. CENTRAL TRUST Co now owns 228 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 195 shares during the period. Finally, City Holding Co. purchased a new position in shares of Franco-Nevada in the 3rd quarter worth about $56,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Down 2.1%

NYSE FNV opened at $262.06 on Friday. The firm has a market cap of $50.52 billion, a P/E ratio of 54.94, a price-to-earnings-growth ratio of 1.51 and a beta of 0.48. The company’s 50 day moving average is $221.04 and its 200-day moving average is $200.38. Franco-Nevada Corporation has a 12-month low of $133.46 and a 12-month high of $273.56.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, beating 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 business had revenue of $487.70 million during the quarter, compared to analyst estimates of $448.51 million. During the same period in the previous year, the business earned $0.80 EPS. Franco-Nevada’s revenue was up 76.9% compared to the same quarter last year. Equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 12th. This is a positive change from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s dividend payout ratio is presently 31.87%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on FNV shares. UBS Group raised their price objective on shares of Franco-Nevada from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Monday, December 1st. Jefferies Financial Group reissued a “hold” rating and set a $228.00 target price on shares of Franco-Nevada in a research report on Sunday, December 7th. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Monday, December 8th. Wall Street Zen upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Monday, November 24th. Finally, Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $240.00.

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.