Franco-Nevada Corporation $FNV Stock Position Raised by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 23.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 105,200 shares of the basic materials company’s stock after buying an additional 20,000 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Franco-Nevada were worth $25,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FNV. Silicon Valley Capital Partners acquired a new position in Franco-Nevada in the 2nd quarter valued at $31,000. Transamerica Financial Advisors LLC purchased a new position in Franco-Nevada during the 2nd quarter worth $33,000. Global Retirement Partners LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth $35,000. Dunhill Financial LLC acquired a new stake in shares of Franco-Nevada in the 2nd quarter worth $36,000. Finally, Ascentis Independent Advisors acquired a new stake in shares of Franco-Nevada in the 1st quarter worth $39,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

Franco-Nevada stock opened at $236.49 on Wednesday. The stock’s 50 day moving average price is $252.64 and its 200 day moving average price is $240.06. Franco-Nevada Corporation has a 1-year low of $181.50 and a 1-year 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 (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. The business’s quarterly revenue was up 57.3% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. As a group, sell-side analysts forecast that Franco-Nevada Corporation will post 7.39 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, September 10th.

Analyst Ratings Changes

Several analysts have recently weighed in on FNV shares. Weiss Ratings raised shares of Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Royal Bank Of Canada increased their price target on shares of Franco-Nevada from $285.00 to $300.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Jefferies Financial Group reduced their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. Zacks Research upgraded shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Bank of America lowered their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Franco-Nevada currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.80.

Franco-Nevada Company Profile

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.