Swiss National Bank Has $160.45 Million Stock Position in Franco-Nevada Corporation $FNV

Swiss National Bank lifted its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 27.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 648,960 shares of the basic materials company’s stock after purchasing an additional 138,200 shares during the period. Swiss National Bank’s holdings in Franco-Nevada were worth $160,452,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Franco-Nevada by 112.3% in the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares in the last quarter. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada during the fourth quarter worth $25,000. Private Trust Co. NA bought a new stake in Franco-Nevada during the fourth quarter worth $29,000. Smartleaf Asset Management LLC lifted its stake in Franco-Nevada by 600.0% in the second quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 168 shares during the last quarter. Finally, Navalign LLC acquired a new stake in Franco-Nevada in the fourth quarter valued at $34,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FNV shares. UBS Group lowered their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and cut their target price for the company from $292.00 to $291.00 in a research note on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and set a $305.00 price target on shares of Franco-Nevada in a report on Wednesday, May 13th. Zacks Research cut Franco-Nevada from a “hold” rating to a “strong sell” rating in a report on Monday, July 13th. Finally, Bank of America lowered their price target on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Price Performance

Shares of Franco-Nevada stock opened at $200.81 on Monday. The business has a fifty day simple moving average of $218.63 and a two-hundred day simple moving average of $236.61. Franco-Nevada Corporation has a 1 year low of $154.11 and a 1 year high of $285.67. The company has a market capitalization of $38.73 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.69 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, beating 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 company’s quarterly revenue was up 76.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.07 earnings per share. As a group, equities analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were issued a dividend of $0.44 per share. 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 payout ratio is presently 24.79%.

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.