McAlvany Wealth Management LLC Invests $4.65 Million in Franco-Nevada Corporation $FNV

McAlvany Wealth Management LLC acquired a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 22,451 shares of the basic materials company’s stock, valued at approximately $4,654,000. Franco-Nevada accounts for about 3.6% of McAlvany Wealth Management LLC’s holdings, making the stock its 7th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of FNV. GAMMA Investing LLC lifted its position in Franco-Nevada by 112.3% during the 4th 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 last quarter. Transamerica Financial Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth about $25,000. Burkett Financial Services LLC bought a new position in shares of Franco-Nevada in the third quarter worth about $28,000. Private Trust Co. NA acquired a new position in shares of Franco-Nevada during the 4th quarter worth about $29,000. Finally, Smartleaf Asset Management LLC lifted its position in shares of Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 168 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. National Bank Financial upgraded 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 reduced their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a research report on Wednesday, May 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Franco-Nevada presently has a consensus rating of “Moderate Buy” and an average target price of $271.00.

Franco-Nevada Stock Up 0.1%

FNV stock opened at $219.47 on Friday. Franco-Nevada Corporation has a twelve month low of $152.89 and a twelve month high of $285.67. The company has a market cap of $42.33 billion, a PE ratio of 30.91, a price-to-earnings-growth ratio of 1.91 and a beta of 0.34. The business’s 50-day simple moving average is $233.32 and its 200 day simple moving average is $236.52.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The company’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.07 earnings per share. On average, equities research analysts anticipate that Franco-Nevada Corporation will post 8.85 EPS for the current year.

Franco-Nevada Dividend Announcement

The company 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 dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is currently 24.79%.

Franco-Nevada Company 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.