Rathbones Group PLC Has $1.66 Million Stake in Franco-Nevada Corporation $FNV

Rathbones Group PLC increased its position in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 134.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,725 shares of the basic materials company’s stock after acquiring an additional 3,854 shares during the period. Rathbones Group PLC’s holdings in Franco-Nevada were worth $1,660,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Addenda Capital Inc. grew its holdings in Franco-Nevada by 88.1% during the 4th quarter. Addenda Capital Inc. now owns 203,643 shares of the basic materials company’s stock worth $42,211,000 after acquiring an additional 95,405 shares during the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Franco-Nevada during the fourth quarter valued at $489,000. PKO Investment Management Joint Stock Co lifted its holdings in shares of Franco-Nevada by 11.4% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock worth $14,519,000 after purchasing an additional 7,150 shares during the period. Annex Advisory Services LLC lifted its holdings in shares of Franco-Nevada by 4.9% during the fourth quarter. Annex Advisory Services LLC now owns 199,972 shares of the basic materials company’s stock worth $41,450,000 after purchasing an additional 9,336 shares during the period. Finally, Oxbow Advisors LLC lifted its holdings in shares of Franco-Nevada by 76.0% during the fourth quarter. Oxbow Advisors LLC now owns 35,332 shares of the basic materials company’s stock worth $7,324,000 after purchasing an additional 15,260 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Franco-Nevada Stock Up 2.0%

Shares of NYSE FNV opened at $218.95 on Wednesday. The firm has a market cap of $42.23 billion, a PE ratio of 30.84, a P/E/G ratio of 1.81 and a beta of 0.35. The company’s fifty day simple moving average is $214.63 and its 200 day simple moving average is $236.03. Franco-Nevada Corporation has a 12-month low of $164.90 and a 12-month high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its quarterly earnings data 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 firm had revenue of $650.70 million for the quarter, compared to analyst estimates of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The business’s quarterly revenue was up 76.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.07 earnings per share. On average, equities analysts predict that Franco-Nevada Corporation will post 8.23 earnings per share for the current year.

Franco-Nevada Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Thursday, June 11th were paid 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 of this dividend was Thursday, June 11th. Franco-Nevada’s dividend payout ratio is 24.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on FNV shares. Weiss Ratings downgraded Franco-Nevada from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, June 8th. Bank of America reduced their target price on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. TD Securities raised shares of 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. Wall Street Zen lowered shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Monday, June 1st. Finally, Canaccord Genuity Group upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.40.

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.