Northwestern Mutual Wealth Management Co. Has $6.45 Million Stock Holdings in Franco-Nevada Corporation $FNV

Northwestern Mutual Wealth Management Co. increased its stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1,735.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,119 shares of the basic materials company’s stock after purchasing an additional 29,424 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Franco-Nevada were worth $6,450,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. WHI TRUST Co LLC acquired a new position in Franco-Nevada during the 4th quarter worth approximately $66,000. Allworth Financial LP raised its position in Franco-Nevada by 5.7% in the fourth quarter. Allworth Financial LP now owns 3,936 shares of the basic materials company’s stock valued at $816,000 after purchasing an additional 211 shares during the last quarter. Navalign LLC bought a new position in Franco-Nevada in the fourth quarter valued at about $34,000. Independent Advisor Alliance raised its position in Franco-Nevada by 3.7% in the fourth quarter. Independent Advisor Alliance now owns 22,657 shares of the basic materials company’s stock valued at $4,696,000 after purchasing an additional 809 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position 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 purchasing an additional 1,074,257 shares during the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group reiterated a “buy” rating and issued a $310.00 target price on shares of Franco-Nevada in a research report on Friday, January 30th. National Bank Financial upgraded Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, May 13th. Scotiabank increased their target price on Franco-Nevada from $286.00 to $290.00 and gave the company a “sector perform” rating in a research report on Thursday, May 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Franco-Nevada in a research report on Wednesday, February 4th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Twelve research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Franco-Nevada has a consensus rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Trading Down 0.0%

Shares of FNV stock opened at $225.75 on Friday. The stock has a market cap of $43.54 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.95 and a beta of 0.34. The stock has a 50-day moving average of $242.33 and a 200-day moving average of $232.75. Franco-Nevada Corporation has a 1-year low of $152.89 and a 1-year high of $285.67.

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, beating the consensus estimate of $2.09 by $0.29. The company had revenue of $650.70 million during the quarter, compared to analysts’ expectations of $634.43 million. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business’s quarterly revenue was up 76.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.07 earnings per share. Sell-side analysts forecast that Franco-Nevada Corporation will post 8.84 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.76 annualized dividend and a dividend yield of 0.8%. Franco-Nevada’s dividend payout ratio is presently 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.