MUFG Securities EMEA plc Acquires New Shares in Franco-Nevada Corporation $FNV

MUFG Securities EMEA plc acquired a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 150,000 shares of the basic materials company’s stock, valued at approximately $31,100,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Franco-Nevada by 112.3% in the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 64 shares during the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Franco-Nevada in the 3rd quarter valued at $28,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $29,000. 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 valued at $32,000 after purchasing an additional 168 shares during the last quarter. Finally, Navalign LLC acquired a new stake in shares of Franco-Nevada in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Price Performance

Shares of FNV opened at $230.82 on Friday. The company has a market capitalization of $44.52 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 2.01 and a beta of 0.34. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The company’s fifty day moving average price is $239.70 and its 200 day moving average price is $234.11.

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

Franco-Nevada Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on FNV. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research note on Wednesday, February 4th. Zacks Research downgraded shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Weiss Ratings upgraded shares of Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a report on Friday, March 20th. Finally, HC Wainwright reiterated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a report on Wednesday, May 13th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $271.00.

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.