OMERS ADMINISTRATION Corp Takes $26.02 Million Position in Franco-Nevada Corporation $FNV

OMERS ADMINISTRATION Corp acquired a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 124,740 shares of the basic materials company’s stock, valued at approximately $26,019,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Osmosis Investment Management UK Ltd purchased a new stake in Franco-Nevada during the second quarter valued at approximately $773,000. Sanctuary Advisors LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter worth $833,000. Solstein Capital LLC purchased a new position in shares of Franco-Nevada during the 2nd quarter worth $47,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Franco-Nevada during the 2nd quarter valued at $131,839,000. Finally, Twin Tree Management LP purchased a new stake in shares of Franco-Nevada in the 2nd quarter worth $980,000. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Franco-Nevada Stock Up 0.0%

NYSE:FNV opened at $265.78 on Monday. The business’s 50-day simple moving average is $219.57 and its two-hundred day simple moving average is $235.06. The stock has a market cap of $51.26 billion, a PE ratio of 34.74, a P/E/G ratio of 2.42 and a beta of 0.35. Franco-Nevada Corporation has a 52 week low of $180.32 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The business had revenue of $580.90 million during the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The business’s revenue was up 57.3% on a year-over-year basis. During the same period last year, the company earned $1.24 EPS. Sell-side analysts anticipate that Franco-Nevada Corporation will post 7.62 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, September 10th. Franco-Nevada’s dividend payout ratio (DPR) is 23.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FNV. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. UBS Group cut their price objective on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Bank of America reduced their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a research note on Wednesday, May 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.40.

About Franco-Nevada

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.