Euro Pacific Asset Management LLC Increases Stake in Franco-Nevada Corporation $FNV

Euro Pacific Asset Management LLC boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 5.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 249,758 shares of the basic materials company’s stock after acquiring an additional 12,791 shares during the period. Franco-Nevada accounts for 5.5% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 4th largest position. Euro Pacific Asset Management LLC’s holdings in Franco-Nevada were worth $57,190,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Franco-Nevada by 15.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 132,465 shares of the basic materials company’s stock valued at $32,725,000 after purchasing an additional 18,000 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Franco-Nevada by 18.2% during the first quarter. Geneos Wealth Management Inc. now owns 4,221 shares of the basic materials company’s stock worth $1,043,000 after purchasing an additional 650 shares during the period. Maryland State Retirement & Pension System grew its stake in shares of Franco-Nevada by 6.9% during the first quarter. Maryland State Retirement & Pension System now owns 21,520 shares of the basic materials company’s stock worth $5,330,000 after purchasing an additional 1,397 shares during the period. Hillsdale Investment Management Inc. increased its holdings in Franco-Nevada by 97.5% in the first quarter. Hillsdale Investment Management Inc. now owns 45,296 shares of the basic materials company’s stock valued at $11,213,000 after purchasing an additional 22,356 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Franco-Nevada by 7.1% in the first quarter. Principal Financial Group Inc. now owns 28,289 shares of the basic materials company’s stock valued at $6,982,000 after purchasing an additional 1,868 shares during the last quarter. Institutional investors own 77.06% of the company’s stock.

Franco-Nevada Trading Up 1.3%

Shares of Franco-Nevada stock opened at $200.81 on Friday. The company has a market capitalization of $38.73 billion, a PE ratio of 28.28, a PEG ratio of 1.67 and a beta of 0.36. Franco-Nevada Corporation has a 12 month low of $154.11 and a 12 month high of $285.67. The stock’s fifty day simple moving average is $218.63 and its 200 day simple moving average is $236.41.

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 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 analyst estimates of $634.43 million. During the same period in the previous year, the company posted $1.07 earnings per share. The company’s revenue for the quarter was up 76.6% on a year-over-year basis. Analysts predict that Franco-Nevada Corporation will post 8.22 EPS for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Thursday, June 11th. Franco-Nevada’s payout ratio is 24.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. HC Wainwright restated a “buy” rating and set a $305.00 target price on shares of Franco-Nevada in a report on Wednesday, May 13th. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, May 13th. Zacks Research downgraded shares of Franco-Nevada from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. TD raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $292.00 to $291.00 in a research note on Wednesday, May 20th. Finally, TD Securities upgraded shares of Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price objective for the company in a report on Wednesday, May 20th. Eleven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $273.40.

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.