Centiva Capital LP Invests $1.79 Million in Franco-Nevada Corporation $FNV

Centiva Capital LP purchased a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the third quarter, HoldingsChannel.com reports. The firm purchased 8,035 shares of the basic materials company’s stock, valued at approximately $1,791,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in Franco-Nevada in the 2nd quarter worth approximately $460,218,000. Mackenzie Financial Corp grew its position in shares of Franco-Nevada by 76.0% in the 3rd quarter. Mackenzie Financial Corp now owns 2,363,324 shares of the basic materials company’s stock worth $525,925,000 after buying an additional 1,020,509 shares during the last quarter. First Eagle Investment Management LLC increased its stake in shares of Franco-Nevada by 26.4% during the third quarter. First Eagle Investment Management LLC now owns 4,049,187 shares of the basic materials company’s stock valued at $901,092,000 after buying an additional 846,950 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Franco-Nevada by 35.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after buying an additional 838,853 shares during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Franco-Nevada during the second quarter valued at approximately $80,621,000. Institutional investors own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of a number of research analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and issued a $228.00 price target on shares of Franco-Nevada in a research note on Sunday, December 7th. HC Wainwright boosted their price objective on shares of Franco-Nevada from $285.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday. Canaccord Genuity Group lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Friday, January 23rd. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Monday, November 24th. Finally, UBS Group reaffirmed a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $256.88.

Franco-Nevada Stock Down 4.6%

FNV opened at $251.45 on Friday. Franco-Nevada Corporation has a 52 week low of $140.03 and a 52 week high of $285.67. The stock has a market cap of $48.48 billion, a PE ratio of 43.65, a PEG ratio of 3.33 and a beta of 0.45. The business has a 50 day moving average of $250.76 and a 200-day moving average of $219.55.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.18. The company had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The firm’s revenue for the quarter was up 86.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. Equities analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 26th. Stockholders of record on Thursday, March 12th will be given a $0.44 dividend. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. This is a boost from Franco-Nevada’s previous quarterly dividend of $0.38. Franco-Nevada’s payout ratio is currently 30.56%.

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.