Ceredex Value Advisors LLC Takes $35.29 Million Position in Franco-Nevada Corporation $FNV

Ceredex Value Advisors LLC acquired a new position in Franco-Nevada Corporation (NYSE:FNV) (TSE:FNV) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 169,312 shares of the basic materials company’s stock, valued at approximately $35,291,000. Franco-Nevada accounts for about 1.0% of Ceredex Value Advisors LLC’s investment portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of FNV. Vise Technologies Inc. acquired a new position in Franco-Nevada in the 2nd quarter worth approximately $731,000. Edmond DE Rothschild Holding S.A. acquired a new stake in Franco-Nevada during the 2nd quarter valued at approximately $5,495,000. Tocqueville Asset Management L.P. acquired a new stake in Franco-Nevada during the 2nd quarter valued at approximately $8,915,000. West Family Investments Inc. purchased a new stake in shares of Franco-Nevada in the 2nd quarter valued at $208,000. Finally, Tacita Capital Inc acquired a new stake in shares of Franco-Nevada in the second quarter worth $1,358,000. Institutional investors and hedge funds own 77.06% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. National Bank Financial raised shares of Franco-Nevada from a “sector perform” rating to an “outperform” rating in a report on Wednesday, May 13th. Canaccord Genuity Group raised Franco-Nevada from a “hold” rating to a “buy” rating in a research report on Wednesday, April 29th. Jefferies Financial Group reduced their price objective on Franco-Nevada from $258.00 to $245.00 and set a “hold” rating for the company in a research note on Monday, July 6th. Royal Bank Of Canada decreased their price objective on Franco-Nevada from $295.00 to $285.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Zacks Research raised Franco-Nevada from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.40.

Franco-Nevada Stock Performance

FNV stock opened at $258.48 on Friday. The firm has a market cap of $49.85 billion, a PE ratio of 33.79, a P/E/G ratio of 2.29 and a beta of 0.35. The firm’s fifty day moving average is $218.45 and its 200 day moving average is $234.83. Franco-Nevada Corporation has a one year low of $178.01 and a one year high of $285.67.

Franco-Nevada (NYSE:FNV) (TSE:FNV) last issued its quarterly earnings data on Tuesday, August 11th. The basic materials company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.14). The firm had revenue of $580.90 million during the quarter, compared to analyst estimates of $616.66 million. Franco-Nevada had a return on equity of 18.58% and a net margin of 63.79%.The company’s revenue was up 57.3% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. Research analysts predict that Franco-Nevada Corporation will post 7.6 earnings per share for the current fiscal year.

Franco-Nevada Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Investors of record on Thursday, September 10th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, September 10th. Franco-Nevada’s payout ratio is currently 23.01%.

About Franco-Nevada

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.