Moran Wealth Management LLC Boosts Stock Holdings in Franco-Nevada Corporation $FNV

Moran Wealth Management LLC increased its position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 31.7% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,769 shares of the basic materials company’s stock after buying an additional 3,312 shares during the period. Moran Wealth Management LLC’s holdings in Franco-Nevada were worth $3,402,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Franco-Nevada by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 8,330,234 shares of the basic materials company’s stock worth $1,726,741,000 after purchasing an additional 113,916 shares during the period. Van ECK Associates Corp grew its stake in shares of Franco-Nevada by 12.8% in the fourth quarter. Van ECK Associates Corp now owns 7,441,133 shares of the basic materials company’s stock valued at $1,542,402,000 after buying an additional 842,132 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Franco-Nevada by 8.9% in the third quarter. Bank of Montreal Can now owns 5,560,980 shares of the basic materials company’s stock valued at $1,237,510,000 after buying an additional 454,175 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Franco-Nevada by 26.5% during the 4th 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 buying an additional 1,074,257 shares during the period. Finally, Royal Bank of Canada raised its holdings in shares of Franco-Nevada by 10.2% during the 4th quarter. Royal Bank of Canada now owns 2,808,645 shares of the basic materials company’s stock valued at $582,177,000 after buying an additional 260,793 shares during the period. Institutional investors and hedge funds own 77.06% of the company’s stock.

Wall Street Analysts Forecast Growth

FNV has been the subject of several recent research reports. UBS Group lowered their price objective on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Scotiabank boosted their target price on shares of Franco-Nevada from $286.00 to $290.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 14th. HC Wainwright restated a “buy” rating and issued a $305.00 target price on shares of Franco-Nevada in a research note on Wednesday, May 13th. Canaccord Genuity Group raised shares of Franco-Nevada from a “hold” rating to a “buy” rating in a report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Franco-Nevada has an average rating of “Moderate Buy” and a consensus target price of $268.00.

Franco-Nevada Stock Performance

NYSE FNV opened at $217.24 on Monday. Franco-Nevada Corporation has a one year low of $152.89 and a one year high of $285.67. The company has a 50-day simple moving average of $224.52 and a 200-day simple moving average of $237.18. The firm has a market capitalization of $41.90 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.89 and a beta of 0.36.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its quarterly earnings data on Tuesday, May 12th. The basic materials company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.09 by $0.29. Franco-Nevada had a return on equity of 18.10% and a net margin of 65.12%.The business had revenue of $650.70 million during the quarter, compared to analyst estimates of $634.43 million. The business’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 EPS. Equities analysts forecast that Franco-Nevada Corporation will post 8.85 earnings per share for the current year.

Franco-Nevada Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Shareholders of record on Thursday, June 11th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $1.76 annualized dividend and a yield of 0.8%. Franco-Nevada’s dividend payout ratio (DPR) is presently 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.