Jupiter Asset Management Ltd. Grows Holdings in Franco-Nevada Corporation $FNV

Jupiter Asset Management Ltd. raised its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 96.9% in the fourth quarter, Holdings Channel.com reports. The firm owned 35,266 shares of the basic materials company’s stock after buying an additional 17,352 shares during the period. Jupiter Asset Management Ltd.’s holdings in Franco-Nevada were worth $7,320,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. PFG Investments LLC grew its position 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 worth $1,484,000 after buying an additional 46 shares in the last quarter. Composition Wealth LLC grew its position in shares of Franco-Nevada by 0.8% during the fourth 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. Smartleaf Asset Management LLC grew its holdings in Franco-Nevada by 27.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 250 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 54 shares in the last quarter. Lafayette Investments Inc. grew its holdings in Franco-Nevada by 2.4% during the 3rd quarter. Lafayette Investments Inc. now owns 2,515 shares of the basic materials company’s stock worth $561,000 after acquiring an additional 60 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in 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. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on FNV. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Wall Street Zen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Sunday, May 24th. Zacks Research lowered shares of Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 31st. Scotiabank lifted their target price on Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. Finally, TD Securities upgraded Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 target price for the company in a research report on Wednesday, May 20th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Stock Performance

NYSE FNV opened at $230.82 on Friday. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The company has a 50-day simple moving average of $239.70 and a 200-day simple moving average of $234.11. The firm has a market capitalization of $44.52 billion, a PE ratio of 32.51, a price-to-earnings-growth ratio of 1.96 and a beta of 0.34.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results 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. 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 during the quarter, compared to analyst estimates of $634.43 million. During the same period in the previous year, the business posted $1.07 EPS. The company’s quarterly revenue was up 76.6% on a year-over-year basis. Equities analysts forecast that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Thursday, June 11th will be given a dividend of $0.44 per share. The ex-dividend date is Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s payout ratio is currently 24.79%.

About Franco-Nevada

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.