2,400 Shares in Franco-Nevada Corporation $FNV Bought by Marnell Management LLC

Marnell Management LLC purchased a new position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,400 shares of the basic materials company’s stock, valued at approximately $497,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 64 shares during the period. Transamerica Financial Advisors LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $25,000. Burkett Financial Services LLC acquired a new stake in shares of Franco-Nevada during the third quarter worth $28,000. Private Trust Co. NA acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $29,000. Finally, Navalign LLC acquired a new stake in shares of Franco-Nevada during the fourth quarter worth $34,000. 77.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. TD raised Franco-Nevada from a “hold” rating to a “buy” rating and decreased their price target for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. HC Wainwright reiterated a “buy” rating and issued a $305.00 price objective on shares of Franco-Nevada in a research report on Wednesday, May 13th. Zacks Research cut Franco-Nevada from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 31st. Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Finally, Scotiabank increased their price objective 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. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $271.00.

Franco-Nevada Trading Up 0.1%

Franco-Nevada stock opened at $209.68 on Monday. The stock has a market cap of $40.44 billion, a PE ratio of 29.53, a P/E/G ratio of 1.82 and a beta of 0.34. The stock has a 50-day moving average price of $236.90 and a 200 day moving average price of $236.11. Franco-Nevada Corporation has a 52 week low of $152.89 and a 52 week high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The firm 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 firm’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.07 EPS. On average, equities analysts predict that Franco-Nevada Corporation will post 8.85 EPS 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. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, June 11th. Franco-Nevada’s dividend payout ratio (DPR) 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.