Oak Harvest Investment Services Makes New $1.04 Million Investment in Franco-Nevada Corporation $FNV

Oak Harvest Investment Services bought a new stake in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 5,000 shares of the basic materials company’s stock, valued at approximately $1,042,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Franco-Nevada during the 4th quarter valued at approximately $578,577,000. First Eagle Investment Management LLC lifted its stake in Franco-Nevada by 26.5% in the fourth quarter. First Eagle Investment Management LLC now owns 5,123,444 shares of the basic materials company’s stock valued at $1,062,037,000 after buying an additional 1,074,257 shares during the last quarter. Van ECK Associates Corp lifted its stake in Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after buying an additional 842,132 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Franco-Nevada by 100.2% during the fourth quarter. Capital Research Global Investors now owns 1,277,889 shares of the basic materials company’s stock valued at $264,882,000 after acquiring an additional 639,493 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Franco-Nevada by 30.7% during the fourth quarter. Deutsche Bank AG now owns 1,889,414 shares of the basic materials company’s stock valued at $391,638,000 after acquiring an additional 443,839 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Down 1.7%

Shares of Franco-Nevada stock opened at $231.82 on Friday. The stock has a market cap of $44.71 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 1.99 and a beta of 0.35. The business has a fifty day simple moving average of $215.37 and a 200-day simple moving average of $235.32. Franco-Nevada Corporation has a 12 month low of $173.39 and a 12 month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.14). The business had revenue of $580.90 million for the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.98%. The firm’s quarterly revenue was up 57.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Analysts expect that Franco-Nevada Corporation will post 8.23 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be given a $0.44 dividend. The ex-dividend date is Thursday, September 10th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 23.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on FNV shares. Jefferies Financial Group cut their price target on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating on the stock in a report on Monday, July 6th. TD Securities raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a report on Wednesday, May 20th. Bank of America decreased their target price on shares of Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Wall Street Zen lowered Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Finally, Royal Bank Of Canada lowered their price target on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $273.40.

Key Franco-Nevada News

Here are the key news stories impacting Franco-Nevada this week:

• Positive Sentiment: Second-quarter revenue increased 57.3% year over year to approximately $580.9 million, supported by higher precious-metals and oil prices. Gold’s continued rally could further benefit Franco-Nevada’s royalty and streaming portfolio. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y
• Positive Sentiment: MarketBeat noted that rising gold prices, analyst price targets and technical indicators point to potential additional upside for FNV despite the quarterly miss. Franco-Nevada Earnings: Gold Is Rallying, But Does the Stock Even Care?
• Positive Sentiment: Franco-Nevada declared a quarterly dividend of $0.44 per share, payable September 24 to shareholders of record September 10. The dividend provides continued income support, although the indicated yield is approximately 0.7%.
• Neutral Sentiment: Zacks Research upgraded Franco-Nevada’s rating from “strong sell” to “hold,” indicating a less negative view but not an outright bullish recommendation. Zacks.com
• Negative Sentiment: Second-quarter adjusted earnings per share came in at $1.81, below the $1.95 consensus estimate, while revenue also missed expectations of approximately $616.7 million. Contracting margins added to investor concerns despite the sharp year-over-year growth. Franco-Nevada Q2 Earnings Miss Estimates, Revenues Soar 57% Y/Y

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.