Regal Partners Ltd Takes $5.74 Million Position in Franco-Nevada Corporation $FNV

Regal Partners Ltd bought a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 1st quarter, Holdings Channel reports. The firm bought 23,218 shares of the basic materials company’s stock, valued at approximately $5,736,000.

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

Analyst Ratings Changes

FNV has been the topic of a number of analyst reports. Wall Street Zen cut Franco-Nevada from a “buy” rating to a “hold” rating in a research note on Monday, June 1st. TD Securities raised Franco-Nevada from a “hold” rating to a “buy” rating and set a $291.00 price target for the company in a research note on Wednesday, May 20th. UBS Group dropped their price objective on Franco-Nevada from $310.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Royal Bank Of Canada cut their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Canaccord Genuity Group upgraded Franco-Nevada from a “hold” rating to a “buy” rating in a research note on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Franco-Nevada presently has an average rating of “Moderate Buy” and an average target price of $273.40.

Franco-Nevada Price Performance

Franco-Nevada stock opened at $210.70 on Wednesday. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.81 and a beta of 0.36. Franco-Nevada Corporation has a 1 year low of $157.18 and a 1 year high of $285.67. The firm has a 50-day moving average of $215.62 and a two-hundred day moving average of $236.58.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its earnings results on Tuesday, May 12th. The basic materials company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.29. The business had revenue of $650.70 million for the quarter, compared to the consensus estimate of $634.43 million. Franco-Nevada had a net margin of 65.12% and a return on equity of 18.10%. The company’s revenue for the quarter was up 76.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.07 EPS. Research analysts expect 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 issued a $0.44 dividend. The ex-dividend date was Thursday, June 11th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.8%. Franco-Nevada’s payout ratio is presently 24.79%.

Franco-Nevada Company 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.