Clare Market Investments LLC Invests $1.85 Million in Franco-Nevada Corporation $FNV

Clare Market Investments LLC purchased a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 7,480 shares of the basic materials company’s stock, valued at approximately $1,848,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Franco-Nevada by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after acquiring an additional 113,916 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the last quarter. Bank of Montreal Can raised its holdings in Franco-Nevada by 8.9% in the 3rd quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after buying an additional 454,175 shares during the period. First Eagle Investment Management LLC raised its holdings in Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after buying an additional 1,074,257 shares during the period. Finally, Royal Bank of Canada lifted its position in Franco-Nevada by 10.2% in the fourth quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock valued at $582,177,000 after buying an additional 260,793 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 0.4%

Shares of FNV opened at $213.60 on Tuesday. The company has a market cap of $41.19 billion, a P/E ratio of 30.05, a PEG ratio of 1.89 and a beta of 0.36. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The firm’s 50 day moving average price is $223.90 and its 200 day moving average price is $237.21.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The firm’s revenue was up 76.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 EPS. Research analysts forecast that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 24.79%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FNV shares. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 31st. TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective on the stock in a report on Wednesday, May 20th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. UBS Group decreased their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating 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 stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average price target of $269.70.

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.