Janus Henderson Group PLC Acquires 12,030 Shares of Franco-Nevada Corporation $FNV

Janus Henderson Group PLC lifted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 65.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 30,532 shares of the basic materials company’s stock after buying an additional 12,030 shares during the period. Janus Henderson Group PLC’s holdings in Franco-Nevada were worth $7,552,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Franco-Nevada during the 4th quarter valued at $578,577,000. First Eagle Investment Management LLC lifted its holdings in shares of Franco-Nevada by 26.5% in the 4th quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock worth $1,062,037,000 after acquiring an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Franco-Nevada by 12.8% during the 4th quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock worth $1,542,402,000 after purchasing an additional 842,132 shares during the period. Capital Research Global Investors grew its holdings in Franco-Nevada by 100.2% during the 4th quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after purchasing an additional 639,493 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Franco-Nevada by 30.7% in the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock worth $391,638,000 after purchasing an additional 443,839 shares during the last quarter. 77.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FNV. Bank of America reduced their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Weiss Ratings downgraded shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, June 8th. Royal Bank Of Canada reduced their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Finally, Jefferies Financial Group dropped their target price on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Stock Up 3.7%

NYSE FNV opened at $227.01 on Thursday. Franco-Nevada Corporation has a 52 week low of $165.59 and a 52 week high of $285.67. The company has a 50 day moving average price of $214.70 and a 200 day moving average price of $235.94. The firm has a market cap of $43.78 billion, a PE ratio of 31.97, a price-to-earnings-growth ratio of 1.85 and a beta of 0.35.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly 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 business had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. During the same period in the previous year, the company earned $1.07 earnings per share. The business’s revenue for the quarter was up 76.6% on a year-over-year basis. On average, equities research analysts anticipate that Franco-Nevada Corporation will post 8.23 earnings per share for the current fiscal year.

Franco-Nevada Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is 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.