Twin Tree Management LP Acquires New Position in Franco-Nevada Corporation $FNV

Twin Tree Management LP acquired a new stake in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,701 shares of the basic materials company’s stock, valued at approximately $980,000.

Other large investors have also recently modified their holdings of the company. Crescent Grove Advisors LLC bought a new position in shares of Franco-Nevada in the fourth quarter worth $489,000. PKO Investment Management Joint Stock Co raised its stake in shares of Franco-Nevada by 11.4% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 69,914 shares of the basic materials company’s stock valued at $14,519,000 after purchasing an additional 7,150 shares during the period. Markel Group Inc. raised its stake in shares of Franco-Nevada by 9.2% during the 2nd quarter. Markel Group Inc. now owns 773,500 shares of the basic materials company’s stock valued at $161,228,000 after purchasing an additional 65,000 shares during the period. Bank of Nova Scotia lifted its holdings in Franco-Nevada by 5.1% during the 1st quarter. Bank of Nova Scotia now owns 485,345 shares of the basic materials company’s stock worth $120,146,000 after purchasing an additional 23,587 shares in the last quarter. Finally, Oxbow Advisors LLC lifted its holdings in Franco-Nevada by 76.0% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 77.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FNV shares. National Bank Financial raised Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Zacks Research raised shares of Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Jefferies Financial Group cut their price objective on shares of Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research report on Monday, July 6th. TD Cowen raised shares of Franco-Nevada from a “hold” rating to a “buy” rating and decreased their target price for the stock from $292.00 to $291.00 in a report on Wednesday, May 20th. Finally, UBS Group lowered their target price on shares of Franco-Nevada from $310.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Price Performance

Shares of FNV opened at $265.78 on Friday. The firm’s 50 day simple moving average is $219.57 and its 200 day simple moving average is $235.05. The company has a market capitalization of $51.26 billion, a P/E ratio of 34.74, a P/E/G ratio of 2.43 and a beta of 0.35. Franco-Nevada Corporation has a 1-year low of $180.32 and a 1-year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last announced its earnings results on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.95 by ($0.14). The company had revenue of $580.90 million during the quarter, compared to analysts’ expectations of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The firm’s revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 earnings per share. On average, equities analysts anticipate that Franco-Nevada Corporation will post 7.62 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, September 10th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s dividend payout ratio is presently 23.01%.

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.