Lafayette Investments Inc. Raises Stake in Franco-Nevada Corporation $FNV

Lafayette Investments Inc. boosted its holdings in shares of Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) by 7.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,455 shares of the basic materials company’s stock after buying an additional 169 shares during the quarter. Lafayette Investments Inc.’s holdings in Franco-Nevada were worth $402,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of Franco-Nevada by 1.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,207,413 shares of the basic materials company’s stock worth $1,923,400,000 after acquiring an additional 207,232 shares during the period. Vanguard Group Inc. boosted its holdings in Franco-Nevada by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,845,339 shares of the basic materials company’s stock valued at $1,233,891,000 after purchasing an additional 45,924 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Franco-Nevada by 4.4% during the 2nd quarter. TD Asset Management Inc now owns 2,011,787 shares of the basic materials company’s stock valued at $329,626,000 after buying an additional 85,117 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Franco-Nevada by 1.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,980,772 shares of the basic materials company’s stock valued at $313,071,000 after buying an additional 33,044 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Franco-Nevada by 16.0% in the 1st quarter. Mackenzie Financial Corp now owns 1,756,344 shares of the basic materials company’s stock valued at $276,224,000 after buying an additional 242,196 shares during the period. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Franco-Nevada Stock Performance

NYSE:FNV opened at $205.20 on Tuesday. The stock has a market capitalization of $39.55 billion, a PE ratio of 50.42, a P/E/G ratio of 1.91 and a beta of 0.42. Franco-Nevada Corporation has a fifty-two week low of $112.70 and a fifty-two week high of $225.63. The company has a fifty day moving average of $199.80 and a two-hundred day moving average of $176.99.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last released its earnings results on Monday, August 11th. The basic materials company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.14. The business had revenue of $369.40 million during the quarter, compared to analysts’ expectations of $382.70 million. Franco-Nevada had a net margin of 58.82% and a return on equity of 12.56%. The company’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.75 earnings per share. Research analysts forecast that Franco-Nevada Corporation will post 3.09 earnings per share for the current year.

Franco-Nevada Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Thursday, September 11th were given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, September 11th. Franco-Nevada’s dividend payout ratio (DPR) is 37.35%.

Wall Street Analysts Forecast Growth

FNV has been the topic of several analyst reports. Zacks Research lowered Franco-Nevada from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 20th. Bank of America raised their price objective on shares of Franco-Nevada from $211.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. National Bankshares reiterated a “sector perform” rating on shares of Franco-Nevada in a research note on Tuesday, June 24th. UBS Group increased their price target on shares of Franco-Nevada from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Wall Street Zen cut shares of Franco-Nevada from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $210.29.

About Franco-Nevada

Franco-Nevada Corporation operates as a gold-focused royalty and streaming company in South America, Central America, Mexico, the United States, Canada, and internationally. It operates through Mining and Energy segments. The company manages its portfolio with a focus on precious metals, such as gold, silver, and platinum group metals; and engages in the sale of crude oil, natural gas, and natural gas liquids through a third-party marketing agent.