69,566 Shares in Franco-Nevada Corporation $FNV Purchased by Oxbow Advisors LLC

Oxbow Advisors LLC bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 69,566 shares of the basic materials company’s stock, valued at approximately $14,500,000. Franco-Nevada makes up 1.2% of Oxbow Advisors LLC’s portfolio, making the stock its 13th largest holding.

A number of other large investors have also recently bought and sold shares of the company. Composition Wealth LLC grew its stake in shares of Franco-Nevada by 0.8% during the 4th quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after acquiring an additional 49 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in shares of Franco-Nevada by 1.0% in the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 50 shares in the last quarter. Syon Capital LLC lifted its position in shares of Franco-Nevada by 2.1% in the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after purchasing an additional 51 shares in the last quarter. PFG Investments LLC boosted its holdings in Franco-Nevada by 0.7% during the first quarter. PFG Investments LLC now owns 7,211 shares of the basic materials company’s stock worth $1,782,000 after purchasing an additional 52 shares during the last quarter. Finally, Guardian Partners Inc. boosted its holdings in Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock worth $351,000 after purchasing an additional 52 shares during the last quarter. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Bank of America lowered their price target on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Scotiabank reduced their price objective on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings cut Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. UBS Group lowered their target price on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Jefferies Financial Group dropped their target price on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Trading Down 2.4%

FNV stock opened at $232.88 on Wednesday. The firm has a market capitalization of $44.92 billion, a PE ratio of 30.44, a PEG ratio of 2.14 and a beta of 0.35. Franco-Nevada Corporation has a 1-year low of $173.39 and a 1-year high of $285.67. The business’s 50 day simple moving average is $216.58 and its 200 day simple moving average is $234.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The company’s revenue for the quarter was up 57.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 EPS. As a group, sell-side analysts predict that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is presently 23.01%.

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.