Spectrum Asset Management Inc. NB CA Purchases Shares of 2,459 Franco-Nevada Corporation $FNV

Spectrum Asset Management Inc. NB CA purchased a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,459 shares of the basic materials company’s stock, valued at approximately $510,000.

A number of other hedge funds also recently bought and sold shares of FNV. GAMMA Investing LLC raised its position in shares of Franco-Nevada by 112.3% during the 4th quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 64 shares in the last quarter. Burkett Financial Services LLC acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in shares of Franco-Nevada by 600.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 196 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 168 shares in the last quarter. Stephens Consulting LLC acquired a new stake in shares of Franco-Nevada during the 4th quarter worth about $36,000. Finally, City Holding Co. acquired a new stake in shares of Franco-Nevada during the 3rd quarter worth about $56,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 23rd. Scotiabank raised their target price on Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a research report on Monday, March 16th. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. UBS Group reissued a “buy” rating and set a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. Finally, Weiss Ratings raised Franco-Nevada from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, March 20th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and an average target price of $257.25.

Franco-Nevada Stock Down 1.0%

FNV opened at $257.31 on Wednesday. The firm has a market cap of $49.61 billion, a price-to-earnings ratio of 44.67, a price-to-earnings-growth ratio of 2.78 and a beta of 0.47. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67. The business’s 50 day moving average is $253.05 and its two-hundred day moving average is $226.94.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings results on Tuesday, March 10th. The basic materials company reported $1.85 EPS for the quarter, topping the consensus estimate of $1.67 by $0.18. The company had revenue of $597.30 million for the quarter, compared to analyst estimates of $542.02 million. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The firm’s revenue was up 86.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.95 earnings per share. Equities analysts expect that Franco-Nevada Corporation will post 3.09 EPS for the current fiscal year.

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.