OMERS ADMINISTRATION Corp Increases Holdings in Franco-Nevada Corporation $FNV

OMERS ADMINISTRATION Corp lifted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 38.7% during the first quarter, HoldingsChannel reports. The firm owned 13,355 shares of the basic materials company’s stock after purchasing an additional 3,724 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Franco-Nevada were worth $3,296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Franco-Nevada by 112.3% during the fourth quarter. GAMMA Investing LLC now owns 121 shares of the basic materials company’s stock valued at $25,000 after buying an additional 64 shares during the period. Transamerica Financial Advisors LLC bought a new stake in Franco-Nevada in the fourth quarter worth about $25,000. Private Trust Co. NA purchased a new position in Franco-Nevada in the fourth quarter valued at about $29,000. Ascentis Independent Advisors purchased a new position in Franco-Nevada in the first quarter valued at about $39,000. Finally, Navalign LLC bought a new position in shares of Franco-Nevada during the 4th quarter valued at approximately $34,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FNV has been the topic of a number of research reports. Weiss Ratings cut shares of Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, June 8th. TD Cowen raised Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the company from $292.00 to $291.00 in a report on Wednesday, May 20th. Wall Street Zen downgraded Franco-Nevada from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Scotiabank lowered their target price on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, UBS Group dropped their price target on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Eleven equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.40.

Franco-Nevada Trading Down 0.2%

Franco-Nevada stock opened at $214.25 on Tuesday. The firm has a 50 day simple moving average of $215.85 and a 200 day simple moving average of $236.63. Franco-Nevada Corporation has a 1-year low of $157.18 and a 1-year high of $285.67. The firm has a market capitalization of $41.32 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 1.81 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last posted its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The firm had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. During the same quarter in the prior year, the business posted $1.07 earnings per share. The business’s quarterly revenue was up 76.6% on a year-over-year basis. On average, equities research analysts forecast that Franco-Nevada Corporation will post 8.23 EPS for the current year.

Franco-Nevada Announces Dividend

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

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.