Moran Wealth Management LLC Acquires 2,203 Shares of Franco-Nevada Corporation $FNV

Moran Wealth Management LLC boosted its holdings in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 26.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,457 shares of the basic materials company’s stock after acquiring an additional 2,203 shares during the quarter. Moran Wealth Management LLC’s holdings in Franco-Nevada were worth $2,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in FNV. Private Trust Co. NA bought a new position in shares of Franco-Nevada in the fourth quarter valued at approximately $29,000. Fruth Investment Management raised its stake in shares of Franco-Nevada by 18.3% during the fourth quarter. Fruth Investment Management now owns 6,450 shares of the basic materials company’s stock worth $1,336,000 after acquiring an additional 1,000 shares in the last quarter. CWM LLC lifted its stake in Franco-Nevada by 33.2% in the fourth quarter. CWM LLC now owns 862 shares of the basic materials company’s stock worth $179,000 after purchasing an additional 215 shares during the last quarter. PFG Investments LLC lifted its stake in shares of Franco-Nevada by 0.6% in the 4th quarter. PFG Investments LLC now owns 7,159 shares of the basic materials company’s stock valued at $1,484,000 after acquiring an additional 46 shares during the last quarter. Finally, Annex Advisory Services LLC boosted its stake in shares of Franco-Nevada by 4.9% during the fourth quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock valued at $41,450,000 after purchasing an additional 9,336 shares during the period. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Analysts Set New Price Targets

FNV has been the subject of several research analyst reports. HC Wainwright increased their price objective on Franco-Nevada from $285.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Canaccord Genuity Group lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 23rd. Scotiabank increased their target price on Franco-Nevada from $283.00 to $286.00 and gave the stock a “sector perform” rating in a research note on Monday, March 16th. Zacks Research cut shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $257.25.

Franco-Nevada Price Performance

NYSE:FNV opened at $262.71 on Monday. The business has a fifty day moving average price of $254.70 and a 200-day moving average price of $227.74. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The firm has a market capitalization of $50.65 billion, a price-to-earnings ratio of 45.61, a price-to-earnings-growth ratio of 2.80 and a beta of 0.47.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, March 10th. The basic materials company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.18. Franco-Nevada had a return on equity of 15.62% and a net margin of 61.01%.The firm had revenue of $597.30 million for the quarter, compared to analysts’ expectations of $542.02 million. During the same period in the previous year, the firm earned $0.95 EPS. The business’s quarterly revenue was up 86.1% on a year-over-year basis. On average, equities research analysts expect that Franco-Nevada Corporation will post 3.09 earnings per share 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.