Osmosis Investment Management UK Ltd Acquires New Stake in Franco-Nevada Corporation $FNV

Osmosis Investment Management UK Ltd bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 3,704 shares of the basic materials company’s stock, valued at approximately $773,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors LLC bought a new stake in shares of Franco-Nevada during the 4th quarter valued at about $25,000. Smartleaf Asset Management LLC lifted its stake in shares of Franco-Nevada by 600.0% in 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 period. Navalign LLC purchased a new position in shares of Franco-Nevada in the fourth quarter worth approximately $34,000. Global Retirement Partners LLC purchased a new position in shares of Franco-Nevada in the second quarter worth approximately $35,000. Finally, Dunhill Financial LLC bought a new stake in Franco-Nevada during the second quarter valued at approximately $36,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FNV. Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Weiss Ratings cut Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Scotiabank cut their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, UBS Group reduced their price target on 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 research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Stock Performance

FNV opened at $270.07 on Tuesday. The stock has a market capitalization of $52.09 billion, a price-to-earnings ratio of 35.30, a PEG ratio of 2.42 and a beta of 0.35. The company has a fifty day moving average of $220.53 and a 200 day moving average of $235.28. Franco-Nevada Corporation has a fifty-two week low of $181.50 and a fifty-two week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The firm had revenue of $580.90 million for the quarter, compared to analysts’ expectations of $616.66 million. During the same quarter in the prior year, the business earned $1.24 EPS. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. On average, equities research analysts forecast that Franco-Nevada Corporation will post 7.62 earnings per share for the current 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 given a dividend of $0.44 per share. The ex-dividend date 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 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.