13,500 Franco-Nevada Corporation $FNV Shares Acquired by Markel Group Inc.

Markel Group Inc. lifted its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 787,000 shares of the basic materials company’s stock after acquiring an additional 13,500 shares during the quarter. Franco-Nevada accounts for 1.5% of Markel Group Inc.’s portfolio, making the stock its 17th largest position. Markel Group Inc. owned about 0.41% of Franco-Nevada worth $187,393,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FNV. EdgePoint Investment Group Inc. raised its position in Franco-Nevada by 3.3% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,461,224 shares of the basic materials company’s stock worth $857,196,000 after purchasing an additional 110,222 shares during the period. Deutsche Bank AG bought a new stake in Franco-Nevada in the second quarter worth about $372,435,000. Canada Pension Plan Investment Board bought a new stake in Franco-Nevada in the second quarter worth about $254,515,000. Amundi boosted its position in shares of Franco-Nevada by 4.4% during the first quarter. Amundi now owns 1,191,417 shares of the basic materials company’s stock valued at $294,340,000 after buying an additional 50,455 shares during the period. Finally, Legal & General Group Plc purchased a new position in shares of Franco-Nevada during the second quarter valued at approximately $193,879,000. 77.06% of the stock is owned by hedge funds and other institutional investors.

Franco-Nevada Price Performance

Shares of FNV stock opened at $225.94 on Wednesday. The company has a market capitalization of $43.58 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.66 and a beta of 0.34. The company’s 50-day simple moving average is $250.07 and its two-hundred day simple moving average is $240.01. Franco-Nevada Corporation has a one year low of $181.95 and a one year 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 company had revenue of $580.90 million for the quarter, compared to the consensus estimate of $616.66 million. Franco-Nevada had a net margin of 63.79% and a return on equity of 18.58%. The business’s revenue was up 57.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 EPS. On average, research analysts expect that Franco-Nevada Corporation will post 7.39 EPS for the current fiscal year.

Franco-Nevada Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FNV shares. Scotiabank reduced their price target on Franco-Nevada from $290.00 to $274.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Bank of America dropped their price objective on Franco-Nevada from $276.00 to $238.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Zacks Research upgraded Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Royal Bank Of Canada upped their price objective on Franco-Nevada from $285.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 16th. Finally, Weiss Ratings upgraded Franco-Nevada from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Ten analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $275.30.

About Franco-Nevada

Franco-Nevada Corporation is a gold-focused royalty and streaming company. Rather than operating mines directly, it provides capital to mining and energy companies in exchange for the right to receive a portion of future production or revenue from their assets. Its portfolio includes royalties, streams and other interests tied primarily to gold, as well as silver, platinum group metals, base metals and energy assets.

The company’s business model provides exposure to commodity production while generally limiting its direct responsibility for mine development, operating costs and capital expenditures.