8,118 Shares in Franco-Nevada Corporation $FNV Purchased by LRT Capital Management LLC

LRT Capital Management LLC bought a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 8,118 shares of the basic materials company’s stock, valued at approximately $1,683,000. Franco-Nevada makes up 1.4% of LRT Capital Management LLC’s holdings, making the stock its 25th biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Franco-Nevada by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock valued at $1,726,741,000 after acquiring an additional 113,916 shares during the period. Van ECK Associates Corp increased its stake in Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after acquiring an additional 842,132 shares during the period. Bank of Montreal Can increased its stake in Franco-Nevada by 8.9% in the third 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 acquiring an additional 454,175 shares during the period. First Eagle Investment Management LLC increased its stake in Franco-Nevada by 26.5% in the fourth 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 acquiring an additional 1,074,257 shares during the period. Finally, Norges Bank acquired a new stake in Franco-Nevada during the fourth quarter valued at approximately $578,577,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

NYSE:FNV opened at $209.68 on Friday. The stock’s fifty day moving average price is $236.90 and its two-hundred day moving average price is $235.86. Franco-Nevada Corporation has a 52-week low of $152.89 and a 52-week high of $285.67. The company has a market cap of $40.44 billion, a price-to-earnings ratio of 29.53, a P/E/G ratio of 1.82 and a beta of 0.34.

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

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is currently 24.79%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. Finally, TD Securities raised 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. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $271.00.

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.