Franco-Nevada Corporation $FNV Position Boosted by Mackenzie Financial Corp

Mackenzie Financial Corp increased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 76.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,363,324 shares of the basic materials company’s stock after purchasing an additional 1,020,509 shares during the period. Mackenzie Financial Corp owned 1.23% of Franco-Nevada worth $525,925,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of FNV. AQR Capital Management LLC acquired a new position in shares of Franco-Nevada in the 1st quarter worth approximately $241,000. NewEdge Advisors LLC boosted its holdings in Franco-Nevada by 16.7% in the first quarter. NewEdge Advisors LLC now owns 6,585 shares of the basic materials company’s stock worth $1,038,000 after purchasing an additional 943 shares during the period. Intech Investment Management LLC boosted its holdings in Franco-Nevada by 118.3% in the first quarter. Intech Investment Management LLC now owns 9,286 shares of the basic materials company’s stock worth $1,460,000 after purchasing an additional 5,032 shares during the period. Acadian Asset Management LLC increased its stake in Franco-Nevada by 800.0% during the first quarter. Acadian Asset Management LLC now owns 2,700 shares of the basic materials company’s stock valued at $424,000 after purchasing an additional 2,400 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of Franco-Nevada during the second quarter worth $362,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

FNV has been the subject of a number of recent research reports. Scotiabank boosted their price objective on shares of Franco-Nevada from $225.00 to $283.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. UBS Group reiterated a “buy” rating and set a $310.00 price target on shares of Franco-Nevada in a research report on Friday, January 30th. Weiss Ratings downgraded Franco-Nevada from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $225.00 to $250.00 in a research report on Wednesday, December 10th. Finally, Zacks Research raised shares of Franco-Nevada from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.38.

Franco-Nevada Trading Down 0.2%

Shares of NYSE FNV opened at $262.40 on Wednesday. Franco-Nevada Corporation has a 12-month low of $140.03 and a 12-month high of $285.67. The company has a market cap of $50.59 billion, a PE ratio of 55.01, a P/E/G ratio of 3.50 and a beta of 0.45. The stock has a 50 day simple moving average of $247.60 and a 200-day simple moving average of $218.19.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.67 by $0.18. The firm had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $542.02 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The firm’s revenue was up 86.1% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Sell-side analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current fiscal year.

Franco-Nevada Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 26th. Investors of record on Thursday, March 12th will be paid a dividend of $0.44 per share. This is an increase from Franco-Nevada’s previous quarterly dividend of $0.38. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, March 12th. Franco-Nevada’s dividend payout ratio (DPR) is presently 31.87%.

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.