Sei Investments Co. Buys Shares of 6,367 Franco-Nevada Corporation $FNV

Sei Investments Co. bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 6,367 shares of the basic materials company’s stock, valued at approximately $1,573,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PFG Investments LLC lifted its holdings in shares of Franco-Nevada by 0.6% during the fourth quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after purchasing an additional 46 shares in the last quarter. Composition Wealth LLC increased its holdings in Franco-Nevada by 0.8% in the 4th 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. increased its holdings in Franco-Nevada by 1.0% in the 4th quarter. Clark Capital Management Group Inc. now owns 5,054 shares of the basic materials company’s stock worth $1,048,000 after buying an additional 50 shares in the last quarter. Syon Capital LLC raised its position in Franco-Nevada by 2.1% in the 4th quarter. Syon Capital LLC now owns 2,443 shares of the basic materials company’s stock worth $506,000 after buying an additional 51 shares during the last quarter. Finally, Guardian Partners Inc. lifted its stake in Franco-Nevada by 3.2% during the 4th 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 period. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 0.8%

Shares of NYSE FNV opened at $240.57 on Tuesday. Franco-Nevada Corporation has a 12-month low of $165.59 and a 12-month high of $285.67. The firm has a market capitalization of $46.40 billion, a price-to-earnings ratio of 33.88, a price-to-earnings-growth ratio of 2.01 and a beta of 0.35. The firm has a 50 day moving average of $215.22 and a 200 day moving average of $235.73.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share 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 analysts’ expectations of $634.43 million. During the same quarter last year, the company posted $1.07 EPS. The company’s revenue was up 76.6% compared to the same quarter last year. Sell-side analysts predict that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their price target on shares of Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. TD upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and lowered their price objective for the company from $292.00 to $291.00 in a research report on Wednesday, May 20th. TD Cowen upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and dropped their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, Scotiabank cut their target price on shares of Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $273.40.

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.