Tocqueville Asset Management L.P. Buys New Shares in Franco-Nevada Corporation $FNV

Tocqueville Asset Management L.P. bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, Holdings Channel.com reports. The fund bought 42,770 shares of the basic materials company’s stock, valued at approximately $8,915,000.

A number of other institutional investors have also bought and sold shares of the business. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada during the fourth quarter valued at about $25,000. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the fourth quarter worth about $29,000. Ascentis Independent Advisors bought a new position in shares of Franco-Nevada in the first quarter worth about $39,000. Navalign LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth about $34,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Franco-Nevada during the second quarter worth about $35,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research analyst reports. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target on the stock in a report on Wednesday, May 20th. Weiss Ratings lowered shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, UBS Group dropped their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Price Performance

NYSE FNV opened at $251.54 on Thursday. Franco-Nevada Corporation has a 1-year low of $173.84 and a 1-year high of $285.67. The business has a 50 day simple moving average of $217.44 and a two-hundred day simple moving average of $234.66. The stock has a market capitalization of $48.51 billion, a PE ratio of 32.88, a P/E/G ratio of 2.13 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data 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 firm had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm’s revenue was up 57.3% on a year-over-year basis. During the same period last year, the company earned $1.24 earnings per share. On average, analysts anticipate that Franco-Nevada Corporation will post 7.6 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. Franco-Nevada’s dividend 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.