Hillsdale Investment Management Inc. Purchases 22,356 Shares of Franco-Nevada Corporation $FNV

Hillsdale Investment Management Inc. lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 97.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,296 shares of the basic materials company’s stock after purchasing an additional 22,356 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Franco-Nevada were worth $11,213,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. PFG Investments LLC raised its holdings in shares of Franco-Nevada by 0.6% during the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after buying an additional 46 shares in the last quarter. Composition Wealth LLC boosted its stake in Franco-Nevada by 0.8% in the fourth quarter. Composition Wealth LLC now owns 6,108 shares of the basic materials company’s stock worth $1,266,000 after buying an additional 49 shares in the last quarter. Clark Capital Management Group Inc. grew its position in Franco-Nevada by 1.0% during the fourth quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 50 shares during the last quarter. Syon Capital LLC grew its position in Franco-Nevada by 2.1% during the fourth quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock valued at $506,000 after acquiring an additional 51 shares during the last quarter. Finally, Guardian Partners Inc. grew its position in Franco-Nevada by 3.2% during the fourth quarter. Guardian Partners Inc. now owns 1,692 shares of the basic materials company’s stock valued at $351,000 after acquiring an additional 52 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FNV. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Scotiabank increased their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a report on Thursday, May 14th. Bank of America decreased their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.00.

Franco-Nevada Stock Performance

Shares of FNV stock opened at $200.31 on Tuesday. The company has a market capitalization of $38.63 billion, a P/E ratio of 28.21, a PEG ratio of 1.74 and a beta of 0.36. Franco-Nevada Corporation has a fifty-two week low of $152.89 and a fifty-two week high of $285.67. The stock has a 50 day moving average price of $220.94 and a two-hundred day moving average price of $236.98.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results 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 net margin of 65.12% and a return on equity of 18.10%. The firm had revenue of $650.70 million for the quarter, compared to analysts’ expectations of $634.43 million. During the same quarter last year, the business earned $1.07 earnings per share. The business’s revenue was up 76.6% on a year-over-year basis. As a group, equities analysts predict that Franco-Nevada Corporation will post 8.22 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. Franco-Nevada’s dividend payout ratio (DPR) is presently 24.79%.

Franco-Nevada Company 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.