Franco-Nevada Corporation $FNV Shares Acquired by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co grew its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 9.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,764 shares of the basic materials company’s stock after acquiring an additional 5,500 shares during the quarter. Franco-Nevada comprises 1.2% of PKO Investment Management Joint Stock Co’s holdings, making the stock its 17th largest position. PKO Investment Management Joint Stock Co’s holdings in Franco-Nevada were worth $13,978,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Franco-Nevada during the 2nd quarter worth $460,218,000. Arrowstreet Capital Limited Partnership raised its position in shares of Franco-Nevada by 35.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,220,029 shares of the basic materials company’s stock valued at $528,289,000 after buying an additional 838,853 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Franco-Nevada in the second quarter worth about $80,621,000. Scharf Investments LLC acquired a new position in Franco-Nevada during the second quarter worth about $78,509,000. Finally, Invesco Ltd. grew its stake in Franco-Nevada by 110.6% during the 2nd quarter. Invesco Ltd. now owns 902,017 shares of the basic materials company’s stock valued at $147,859,000 after acquiring an additional 473,697 shares in the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Up 1.0%

FNV stock opened at $231.00 on Tuesday. Franco-Nevada Corporation has a 52-week low of $123.66 and a 52-week high of $236.73. The stock has a market cap of $44.53 billion, a price-to-earnings ratio of 48.43, a price-to-earnings-growth ratio of 1.38 and a beta of 0.48. The business has a fifty day moving average of $205.80 and a two-hundred day moving average of $192.72.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The business had revenue of $487.70 million during the quarter, compared to analysts’ expectations of $448.51 million. Franco-Nevada had a return on equity of 13.94% and a net margin of 59.48%.The company’s revenue was up 76.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. As a group, sell-side analysts anticipate that Franco-Nevada Corporation will post 3.09 EPS for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Thursday, December 4th were given a dividend of $0.38 per share. The ex-dividend date was Thursday, December 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Franco-Nevada’s dividend payout ratio (DPR) is currently 31.87%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on FNV shares. Jefferies Financial Group reissued a “hold” rating and issued a $228.00 target price on shares of Franco-Nevada in a research note on Sunday, December 7th. TD Securities reduced their price objective on Franco-Nevada from $247.00 to $225.00 and set a “hold” rating on the stock in a research report on Wednesday, November 5th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Monday, December 8th. UBS Group upped their target price on Franco-Nevada from $260.00 to $270.00 and gave the company a “buy” rating in a report on Monday, December 1st. Finally, Royal Bank Of Canada raised Franco-Nevada from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $225.00 to $250.00 in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Franco-Nevada currently has an average rating of “Moderate Buy” and an average price target of $232.75.

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.